The elapsed time between an order's receipt, delivery, and payment is called the ________ cycle
A) variable-costs-to-payment
B) product-to-payment
C) inventory-to-sale
D) order-to-inventory
E) order-to-payment
E
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The buyers made an offer on the exact terms of the listing contract on February 1, with the condition that the offer be accepted within 72 hours. The broker was unable to contact the sellers until February 6. When the sellers accepted the offer, the broker promptly notified the buyers. The buyers told the broker that they had changed their minds and did not want to purchase the property. The buyers demanded the return of their deposit:
A: The buyers have grounds to demand the return of their deposit; B: The deposit would be forfeited because it was not the sellers' fault that the broker could not locate them; C: The broker would receive a full commission; D: The broker would receive one-half of his commission.
Which of the following is true about trends in wholesaling?
A) New laws prevent wholesalers from having their own retailing operations. B) Value-added customer relationships have been replaced by control systems. C) Merchant wholesalers are decreasing in number and relevance. D) The demand for lower prices and higher quality has increased. E) Bulk breaking is increasingly popular and necessary.