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An interior decorator must furnish two offices. Each office must have a desk, a chair, a file cabinet and 2 bookcases. At a local office furniture store there are 6 models of desks, 8 models of chairs, 4 models of file cabinets and 10 models of bookcases, all of which are compatible. (Any desk can be matched with any chair, etc.) How many choices does the decorator have if he wants to select two desks, two chairs, two file cabinets and four bookcases if he doesn't want to select more than one of any model?
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Just in Time
An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.
Credit Instrument
The evidence of indebtedness.
Promissory Note
A promissory note is a financial instrument in which one party promises in writing to pay a determinate sum of money to another, either at a fixed or determinable future time or on demand of the payee.
Time Draft
A type of credit instrument in international trade where payment is deferred for a specified period after the buyer accepts the draft.
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