Banks Have Recently Begun to Install ATMs in Supermarkets to Address

question 44

Multiple Choice

Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping. What type of utility are banks creating for customers?

• A) Form
• B) Possession
• C) Place
• D) Ownership

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Definitions:

Major Overhaul

Significant restorations or renovations to an asset, often extending its life or improving its efficiency.

Non-Cancelable

A contract or policy clause that safeguards against cancellation before a specified date, ensuring a degree of stability or guarantee.

Service Life

The estimated period during which an asset is expected to be usable for its intended purpose, affecting depreciation calculations.

Fair Value

An estimate of a security's worth on a given market based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller.