Define the Following Terms

question 37

Short Answer

Define the following terms
-sampling frame

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Definitions:

Raw Materials

Raw materials are the fundamental ingredients or components that are processed to manufacture goods.

Asset

An item or resource owned by an individual or a business, having economic value and expected to provide future benefits.

Direct Material

Raw materials that are directly incorporated into a finished product and can be easily traced.

Indirect Material

Materials used in the production process that can't be directly traced to a finished product, such as lubricants and cleaning supplies.