What Type of Utility Does Warehousing Provide to Consumers by Holding

question 9

Multiple Choice

What type of utility does warehousing provide to consumers by holding onto products until consumers need them?

• A) time
• B) possession
• C) production
• D) form
• E) packaging

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Definitions:

Net Income

The total earnings of a company after subtracting all expenses from revenues, including taxes and interest.

Administrative Expenses

Costs associated with the general operation of a business, such as office salaries and utilities.

Raw Materials Inventory

The total cost of all the components and materials stored that are to be used in the production of goods.

Indirect Product Cost

Costs associated with production that are not directly attributable to the product, such as maintenance and utilities.