Which of the Following Is True Regarding Services

question 143

Multiple Choice

Which of the following is true regarding services?

• A) Services are typically produced, stored, and then consumed.
• B) Services are generally low in experience and credence qualities.
• C) Service providers develop similar marketing programs for personal services and business services.
• D) There is less risk associated with the purchase of services than with the purchase of goods.
• E) Provider-client interaction is a special feature of services marketing.

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Definitions:

Standard Costing

A cost accounting technique that uses predetermined costs for assessing the performance of processes and employees by comparing these standard costs against the actual costs incurred.

Seasonal Pattern

The fluctuation in data or activities that occur regularly each year in a predictable manner.

Stable Product Costs

Costs that remain consistent over time without significant fluctuations, making budgeting and pricing strategies more predictable.

Flexible Budgets

Budgets that adjust or flex based on changes in the level of activity or volume.