Which statement is NOT true? a. Manufacturing firms have a conversion cycle but retail firms do not. b. The conversion cycle includes the ..

Which statement is NOT true?

a. Manufacturing firms have a conversion cycle but retail firms do not.

b. The conversion cycle includes the task of determining raw materials requirements.

c. A payroll check is an example of a product document of the payroll system.

d. A journal voucher is actually a special source document.

e. Business activities begin with the acquisition of materials, property, and labor in exchange for cash

Solutions

Expert Solution

The statement that is NOT true is:

a. Manufacturing firms have a conversion cycle but retail firms do not.

Retail firms also have a conversion cycle, albeit it might be simpler compared to manufacturing firms. The conversion cycle involves the process of converting raw materials into finished goods or services, and retail firms are involved in the conversion of goods (purchased from suppliers) into products sold to customers. Therefore, both manufacturing and retail firms have a conversion cycle.

The statement that is NOT true is: (a).

Junaid answered 3 months ago

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