A Service Department Includes Which of the Following

question 89

Multiple Choice

A service department includes which of the following?

• A)yes no
• B)yes yes
• C)no yes
• D)no no

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Definitions:

Economics

The study of how people use their scarce resources to satisfy their unlimited wants

Physical Capital

Manufactured items used to produce goods and services; includes new plants and new equipment.

Petty Cash

A small amount of cash on hand that is used for paying minor or incidental expenses in a business.

Free Goods

Items or services available in abundance without direct cost, such as air or sunlight, not requiring scarce resources for their production.