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What is customer relationship management (CRM)? What are the different strategies of CRM?
Prepaid Insurance
An asset account that represents insurance paid in advance before the coverage period, reflecting future economic benefits.
Work in Process
Inventory that includes goods in manufacturing that are not yet completed; represents a stage between raw materials and finished goods.
Raw Materials
Basic materials used in the manufacturing process that are not yet processed or transformed.
Accounts Payable
The amounts a company owes to suppliers or creditors for products or services bought on credit.
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