Polaris Corporation (US)has bid a price on a project for a Korean firm, but the Korean firm has not yet placed an order. This portion of the operating cycle is best described as the
A)quotation period.
B)input sourcing period.
C)cash conversion cycle.
D)accounts payable cycle.

Question

Quizplus · Accepted Answer

During this phase, Polaris Corporation is providing a price quote to the Korean firm. This is known as the quotation period, where the company is providing information about the project cost and specifications to the customer. The input sourcing period refers to the time taken by the company to procure raw materials or other resources for the project. The cash conversion cycle is a broader concept related to the time taken by the company to convert its investments in inventory and other resources into cash. The accounts payable cycle refers to the time taken by the company to pay its vendors and suppliers after receiving the goods or services. None of these concepts specifically applies to the quotation period in this scenario.

Polaris Corporation (US)has Bid a Price on a Project for a Korean