A manufacturing business is one that purchases raw materials and transforms the materials into products it then sells to its customers. A manufacturing business combines materials with labor and supplies to create a product. Customers exchange money for the benefit (or perceived benefit) they receive from the products. Examples of manufacturing businesses are:
- Toyota
- Apple
- Samsung
- General Motors
- Exxon
- Ford
- Hewlett-Packard
- Tesla
To learn more about how financial statements for a manufacturing business work, watch this video:
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So You Want to Start a Nonprofit…Consider This
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