Identify and Discuss Five Differences Between Service and Manufacturing Organizations

question 10

Essay

Identify and discuss five differences between service and manufacturing organizations.

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Definitions:

Accounts Payable

Accounts payable are liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.

Operating Cash Flow

The money produced through the regular operational functions of a company during a particular timeframe.

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenues.