A Customer Approaches a Firm with a Question Regarding Her

question 12

Multiple Choice

A customer approaches a firm with a question regarding her order status and shipping date; the information the firm provides is an example of which of the eight key supply chain business processes:

• A) Supply management process
• B) Demand management process
• C) Customer service management process
• D) Order fulfillment process

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Definitions:

Net Income

Represents the total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenue.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, closing out the revenue and expense accounts.

Post-closing Trial Balance

A financial statement prepared after all adjusting and closing entries are made, ensuring the total debits equal total credits.

Ledger Accounts

Individual financial records within the general ledger, detailing transactions related to a specific account category.