What is primarily measured by the Cash Conversion Cycle?

The correct answer focuses on the Cash Conversion Cycle (CCC), which is a critical metric used to evaluate a company's efficiency in managing its working capital. It specifically measures the time duration between cash outflows and the timing of cash inflows from sales. The CCC incorporates three key components: the days inventory outstanding, days sales outstanding, and days payable outstanding.

By calculating these components, businesses can determine how long it takes to convert their investments in inventory and accounts receivable back into cash. This cycle is vital for assessing how effectively a company can manage its cash flow and operational efficiency, which are essential for maintaining liquidity and ensuring that the company can meet its short-term obligations.

The other options do not directly relate to the primary function of the Cash Conversion Cycle. Interest on debts, creditworthiness, and the general efficiency of turning investments into cash do not capture the specific focus on the timing of cash movements within the business's operational cycle.