Answer:
B. Immediately; stored
Explanation:
One primary difference between services and the production of goods is that services are consumed <u>immediately</u> whereas goods can be <u>stored</u>.
There are several differences in production and consumption of goods and services:
- Goods are Tangible as it can be touched, however, services are intangible as it cannot touched but it can realized.
- Goods can be stored for later use, however, services cannot be stored but need to be consumed immediately on real time.
- Goods can be weighed and measured on scale, however, services can evaluated on basis of satisfaction level.
Answer:
B. resources to implement strategies are firm-specific and attached to firms over the long-term
Explanation:
Answer:
C. An operations costing system is the same as job order costing system except that materials are accounted for in the same way as they are in process costing system
Explanation:
Operation costing is a hybrid of both job costing and process costing which can either used for:
- products which use different materials initially but ends up using a common process for production that is same process for different group of products.
- product has identical processing initially for different group of products and ends up with more product specific procedures.
The formula is: Assets = Liabilities + Shareholders' Equity. The three components of the basic accounting formula are: Assets. These are the tangible and intangible assets of a business, such as cash, accounts receivable, inventory, and fixed assets
Answer:
Cash and equivalents $700 Debit*
Accounts Receivables $700 Credit*
Explanation: The cash represents a debit because we are receiving the cash from a sale already made and the credit is made accounts receivable, because the product was previously sold only that a payment term was given to the person who is currently fulfilling, then the account receivable becomes cash as part of the company's operating cycle.
