An Example of a Tangible Product, Rather Than a Service

question 45

Multiple Choice

An example of a tangible product, rather than a service, would be

• A)housekeeping.
• B)insurance coverage.
• C)paper.
• D)medical exam.

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Definitions:

Calculating Product Cost

Calculating product cost involves determining all the direct costs associated with the production of a product, including raw materials, labor, and overhead expenses.

Earnings Per Share

A financial metric that measures the amount of net income earned per share of stock outstanding.

Managerial Accounting

The process of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the purpose of achieving organizational goals.

Management Accounting

The method of creating management reports and financial statements that offer precise and current financial and statistical data needed by managers for making daily and short-term choices.