Describe the Four Changes Resulting from Advances in IT That

question 15

Essay

Describe the four changes resulting from advances in IT that are driving supply chains.

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Definitions:

Services Rendered

Refers to the completion of work or the delivery of a service for which payment is due.

Credit

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

Owner's Equity

The residual interest in the assets of a company after deducting liabilities, representing the ownership interest.

Assets

Economic resources owned or controlled by a business, expected to provide future benefits.