Term
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Definition
| an organization in which basic resources (inputs), such as materials and labor, are assembled and processed to provide goods or service to customers |
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Term
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Definition
| the difference between the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services |
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Term
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Definition
| provide services rather than products to customers |
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Term
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Definition
| sell products they purchase from other businesses to customers |
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Term
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Definition
| change basic inputs into products that are sold to customers |
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Term
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Definition
| information system that provides reports to users about the economic activities and condition of a business |
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Term
Managerial Accounting or Management Accounting |
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Definition
| The objective of this type of accounting is to provide relevant and timely in formation for managers' and employees' decision-making needs. |
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Term
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Definition
| is where managerial accountants employed by a business are employed |
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