Services Are Intangible Products

question 129

True/False

Services are intangible products.

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Definitions:

Payee

The individual or entity to whom a payment is to be made or has been made.

Nonassignable

Refers to a contract or rights within a contract that cannot be transferred or delegated to another party.

Commercial Paper

An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories, and meeting short-term liabilities.

Negotiable

Able to be bargained or exchanged with flexibility, often used in the context of financial instruments or agreements.