An Organization That Produces Nonphysical Outputs That Require Customer Involvement

question 142

Short Answer

An organization that produces nonphysical outputs that require customer involvement and cannot be stored in inventory is called a(n) ____________________ organization.

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Definitions:

Production Budget

A forecast of the quantity of products that must be manufactured in a specified time period to meet customer demand and maintain inventory levels.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Budgeted Sales

Predicted sales revenue for a future period, based on historical data, market analysis, and other forecasting methods.

Cash Collected

The total amount of money received by a company or individual during a specific period, typically from sales, services, or other transactions.