Which cycle includes recording cash, interest, and investment activity?

The correct choice is the Treasury Cycle because it encompasses activities related to managing a company’s cash flow, including the recording of cash transactions, interest income or expenses, and investment activities. The Treasury Cycle focuses on the organization's liquidity management, ensuring that there is enough cash to meet obligations and investing excess cash effectively.

In this cycle, cash transactions are recorded to reflect the actual movements of cash in and out of the business. Interest activities involve accounting for interest earned on investments or paid on borrowings, both critical parts of managing funds. Investment activity pertains to the buying and selling of financial investments, which is essential for growing and safeguarding the company's cash reserves.

While other cycles like the Revenue and Collections Cycle primarily handle cash received from sales, the Payroll Cycle focuses on employee compensation and the Fixed Asset Cycle deals with the acquisition and management of long-term assets, none of these encompass the broader aspects of cash management and investment activities as thoroughly as the Treasury Cycle does.