Steps in the Operations Cycle of the Value Chain Include

question 74

Multiple Choice

Steps in the operations cycle of the value chain include:

• A) Designing products and services
• B) Building products and services
• C) Identifying customer preferences
• D) Providing customer service

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Definitions:

Account

A record summarizing all the transactions pertaining to a specific item in the financial statements.

Expenses Paid

Refers to the outflow of cash or other valuable assets from a person or company to another entity in exchange for goods or services.

Assets

Resources owned or controlled by a business from which future economic benefits are expected.

Salaries Expense

The total amount spent by a business on salaries for its employees during a specific period, typically reported on the income statement.