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Chegg announced that it would launch a GPT-4 powered AI platform called Cheggmate later in May 2023. [23] By June, CheggMate was in testing mode, but wasn't expected to publicly launch until 2024. [24] As of 2025, it has not been released. By November 2024, Chegg's stock price had fallen 99%, primarily because of competition from ChatGPT. [25]
Credit sale of inventory on credit Purchases. Cash Journals record items sold or purchased with cash and they also record income received (debtor payment, interest) and daily expenses. If the transaction is of a cash nature, you must be convinced that money/cheque/credit card was also exchanged at the time that the good or service was exchanged.
The (Q,r) model addresses the question of when and how much to order, aiming to minimize total inventory costs, which typically include ordering costs, holding costs, and shortage costs. It specifies that an order of size Q should be placed when the inventory level reaches a reorder point r. The (Q,r) model is widely applied in various ...
In accounting, purchases is the amount of goods a company bought throughout this year. It also refers to information as to the kind, quality, quantity, and cost of goods bought that should be maintained. They are added to inventory. Purchases are offset by purchase discounts and Purchase Returns and Allowances.
Production runs to replenish inventory are made at regular intervals; During a production run, the production of items is continuous and at a constant rate; Production set-up/ordering cost is fixed (independent of quantity produced) The lead time is fixed; The purchase price of the item is constant, i.e. no discount is available
A purchase journal is an accounting journal and it is also a prime entry book/daybook/main entry book which is used in an accounting system to keep track of the orders of items placed using accounts payable .
The primary bookkeeping record in single-entry bookkeeping is the cash book, which is similar to a checking account register (in UK: cheque account, current account), except all entries are allocated among several categories of income and expense accounts.
Purchasing is the formal process of buying goods and services.The purchasing process can vary from one organization to another, but there are some common key elements.. The process usually starts with a demand or requirements – this could be for a physical part or a service. [1]