Match the Terms with the Definitions

Multiple Choice

Match the terms with the definitions.
-The number of times the merchandise inventory turned over, or was sold, during the accounting period.

A) selling expenses
B) quick assets
C) average days to sell inventory
D) book value
E) property, plant, and equipment
F) operating cycle
G) quick ratio
H) general expenses
I) gross profit
J) net sales
K) multiple-step income statement
L) inventory turnover
M) liquidity