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Describe parallel simulation.
Production
The act of generating goods and services by blending human effort, resources, and technological advancements.
Cost of Production
The total expenses incurred in manufacturing a product or offering a service, including materials, labor, and overhead costs.
Finished Products
Goods that have completed the manufacturing process and are ready for sale.
Journal Entry
A record of financial transactions in the double-entry bookkeeping system that includes debits and credits.
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