Which of the Following Statements About Services Is True

question 37

Multiple Choice

Which of the following statements about services is true?

• A) A service economy produces services at the expense of other sectors
• B) Service jobs are low paying and menial
• C) Service production is labor intensive and low in productivity
• D) Service is a necessary evil for manufacturing firms
• E) The skills needed for managing services differ from those used for managing manufacturing businesses

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Definitions:

Simple Interest

The interest calculated only on the principal amount, without the accumulation of prior interest.

Simple Interest

Interest figured only on the principal balance, or on the portion of the principal balance that is still due.

Closing Balance

The amount of money in an account at the end of a period, after all transactions have been accounted for.

Bank Account

A financial account maintained by a bank or another financial institution in which the deposits, withdrawals, and balances of a customer are recorded.