Last week Paul, CEO of Quality Furniture in South Carolina, traveled to Europe to visit customers. While overseas, Paul checked his e-mail daily and showed his company's website to customers, explaining how the website will help them place orders and receive merchandise more quickly. After visiting the last customer Friday morning, Paul was able to return to the corporate office in South Carolina to meet with his board of directors that night. is the "shrinking" of time and space with air travel and electronic media.

the global village

Explanation:

Global village is a term used to describe how communication between parties that are far apart is done as a result of interconnectivity and advanced media technology.

An individual does not need to travel from New York for example for a meeting, rather meetings can now be done online.

In this scenario Paul checked his e-mail daily and showed his company's website to customers, explaining how the website will help them place orders and receive merchandise more quickly.

He was able to work with his office and the customers he visited through the use of media.

This shrinking of time and space by use of media is referred to as the global village.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

answer; commerce clearing house;