Please answer the following question:

True or False? The cash conversion cycle is equal to the operating cycle (inventory period minus the accounts receivable period) minus the payables period. True False Question 2 (1 point) Ultra-Cosmetics Corporation has an average production process time of 40 days. Finished goods are kept on hand for an average of 15 days before they are sold. Accounts receivables are outstanding an average of 35 days, and the firm receives 40-days credit on its purchases from suppliers. Assume net sales of $1,200,000 and cost of goods sold of $900,000. How often would the cycle turn over in a year? In other words, take the number of days in the year (365 days) and divide by the firmos short-term operating cycle. 4.06 times 3.04 times 9.13 times 24.33 times