Explain the Differences Among Operations Systems with Respect to Tangibility

question 144

Essay

Explain the differences among operations systems with respect to tangibility of products,levels of customer involvement,operations flexibility,and management of resources and technology.

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Definitions:

Identification Numbers

Unique numerical codes assigned to entities for identification purposes, such as Social Security numbers for individuals or EINs for businesses in the U.S.

General Journal

A general journal is a basic accounting record used to document all financial transactions of a business in chronological order, prior to their transfer to specific accounts in the general ledger.

Source Documents

Original records or documents that provide evidence of financial transactions, used as the basis for accounting entries, like invoices and receipts.

Business Transactions

An economic event with a third party that is recorded in an entity's accounting system, affecting the financial statements.