Which Statement Best Describes a Service

question 18

Multiple Choice

Which statement best describes a service?

• A) Services are physical objects.
• B) Services are intangible items.
• C) Services are thoughts about concepts, actions, or causes.
• D) Services are the benefits organizations receive in exchange for selling products.
• E) Services comprise the subset of tangible features of products.

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Definitions:

Transfer Price

The selling price for goods and services among different segments within the same enterprise.

Idle Capacity

Unused production capability or facilities that could be producing goods or services but are currently not due to lack of demand or inefficiency.

Connector Division

A segment or department within a company that specializes in producing connectors, often seen in electronics and manufacturing firms, aiming to enhance operational efficiency and product specialization.

Minimal Acceptable

The lowest standard or level that is considered satisfactory or acceptable.