what is mean by working process and work in progress give some practical examples nowadays???
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Quick Summary
This discussion clarifies the meaning of 'work in progress' (WIP) and 'working process'. WIP refers to inventory or assets that are not yet complete for sale or use, such as unfinished products or buildings under construction. The conversation aims to provide practical examples to help understand these financial concepts better.
If your product which you sell is not fully completed for sale it is called as work in progress inventory, if an asset like building is under construction is not fully completed for its use then that's also called capital work in progress