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What Is Meant by the Current Description of the Global

question 7

Essay

What is meant by the current description of the global economy that "time and distance have been compressed"? Do you agree? What has been the impact of this compression?


Definitions:

Accounts Payable

Money owed by a company to its creditors or suppliers for goods and services that have been received but not yet paid for.

Debit Entry

An accounting entry that increases an asset or expense account, or decreases a liability, equity, or revenue account.

Credit Entry

An accounting entry that increases a liability or equity account or decreases an asset or expense account.

Service Revenue

Income earned by a company for services provided to customers or clients.

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