What impact will each of the following events have upon a firm’s cash conversion period (that is, will the CCP increase, decrease, remain the same):
a. Customers are given a bigger discount for cash transactions.
b. The inventory turnover falls from 8x to 6x.
c. New production and operations technology streamlines (improves) the production process.
d. The firm adopts a policy of reducing its outstanding accounts payable (i.e., AP falls).