For the purpose of classifying liabilities as current or noncurrent, the term operatingcycle refers toa. the time period between the date the sale is made and the date the related revenue iscollected.b. the time period between the purchase of merchandise and the conversion of this merchandise back to cash.c. a period of one year.d. the average time period between business recessions

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.