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A Classic Three-Stage Information-Processing Model That Distinguishes Between Sensory Memory,short-Term

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A classic three-stage information-processing model that distinguishes between sensory memory,short-term memory,and long-term memory was first introduced by


Definitions:

Accounts Payable

Liabilities of a business that represent the company's obligation to pay off a short-term debt to its creditors or suppliers.

Inventory

The complete inventory of products and materials a company possesses, meant for sale or to be used in manufacturing.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including material and labor costs.

Accounts Receivable

Funds that customers owe to a business for products or services provided but for which payment has not yet been received.

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