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:

Tax Returns

Official documents filed with a government body, detailing income earned and taxes owed for the year.

Public Accountants

Professionals who provide accounting services to the public, including auditing, taxation, and consulting.

Private Accountants

Accountants who work exclusively for one company, handling its financial records and statements internally.

Bookkeeping

The systematic recording, organizing, and maintaining of financial transactions of a business, which is a subset of the accounting process.