For Many Types of Service Organizations Such as Hospitals,banks and Airlines,the

question 113

Multiple Choice

For many types of service organizations such as hospitals,banks and airlines,the primary cost of operations is:

• A)establishing and maintaining a presence on the Internet.
• B)insurance and legal expenses.
• C)coping with obsolescence that results from the rapid pace of technological change.
• D)labour costs.

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Definitions:

Payroll Bank Account

A dedicated bank account used exclusively for processing payroll and related transactions, ensuring accurate tracking of wages and taxes.

Times Interest Earned

A financial ratio that measures a company's ability to meet its debt obligations based on its current income, indicating financial health and stability.

Short-term Note Payable

A debt obligation due within a short period, typically less than one year, representing a written promise to pay a specified sum of money.

Merit Rating

An evaluation system that rates the performance or credit rating of an individual or entity.