Discuss Three Major Points About What Gives Money Its Value

question 74

Essay

Discuss three major points about what gives money its value.

---

Definitions:

Lean Manufacturing

An organized approach to reducing waste in manufacturing systems while maintaining productivity levels.

Raw Materials

Raw materials are the basic, unprocessed inputs used in the manufacturing process to produce finished goods.

Journal Entry

The record of a transaction entered in a journal, made up of at least one debit and one credit.

Work In Process

Inventory that includes items that are partially completed; it is not yet a finished product but has been moved from raw materials inventory.