For the purpose of classifying liabilities as current or non-current, the term operating cycle refers to:

For the purpose of classifying liabilities as current or non-current, the term operating cycle refers to:

A. the time period between purchase of merchandise and the conversion of this merchandise back to cash

B. a period of one year.

C. the average time period between business recessions.

D. the time period between date of sale and the date the related revenue is collected.