If there were a need to isolate key variables and relationships for further examination, it would be best to perform ________

If a firm decided to speed up its collection from its customers by reducing the receivables period and kept the inventory period and payable period the same, then:

A) The firm's investment in working capital will be minimized B) Investment in working capital will be maximized C) Cash conversion cycle will increase D) Cash conversion cycle will decrease

A merchandiser purchased inventory on account for $10,000. Under the periodic inventory system, the journal entry to record the purchase would include ________

A) a debit to Purchases for $10,000 and a credit to Accounts Payable for $10,000 B) a debit to Accounts Payable for $10,000 and a credit to Purchases for $10,000 C) a debit to Merchandise Inventory for $10,000 and a credit to Accounts Payable for $10,000 D) a debit to Accounts Payable for $10,000 and a credit to Merchandise Inventory for $10,000