The time taken to complete a product or service or any of the components of a product or service is called the
A) accounting cycle.
B) cycle time.
C) operating cycle.
D) productive time.

Question

Quizplus · Accepted Answer

Cycle time refers to the time taken to complete a product or service or any of its components. Operating cycle refers to the time taken from purchasing raw materials to receiving payments for the finished product. Accounting cycle refers to the process of recording, summarizing, and reporting financial transactions. Productive time refers to the time spent on productive activities. Therefore, the best choice is B.

The Time Taken to Complete a Product or Service or Any