________ Describes the Flow of Goods, Services, and Information from the Purchase

question 123

Multiple Choice

________ describes the flow of goods, services, and information from the purchase of materials to the delivery of products to consumers, regardless of whether those activities occur in the same organization or with other organizations.

• A) Supply chain
• B) Production process
• C) Quality control
• D) Customer relationship management

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Definitions:

Income Statement

The income statement is a financial report that summarizes the revenues, costs, and expenses incurred during a specific period of time, typically a fiscal quarter or year.

Total Liabilities

The aggregate of all debts and financial obligations a company owes to external parties.

Contra-Liability Account

An account that reduces the amount of a liability, often used to record discounts or allowances that decrease the total amount owed by a company.

Cash Inflow

The cumulative sum of funds flowing into a company, usually originating from its operations, investments, and financial activities.