An Example of a Service, Rather Than a Tangible Product

question 84

Multiple Choice

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

• A)medical exams.
• B)cloths.
• C)trucks.
• D)radios.

---

Definitions:

Income Tax Rate

The percentage at which an individual or corporation is taxed on their income.

Straight-Line Method

A method of calculating depreciation of an asset, which assumes the asset will lose an equal amount of value each year over its useful life.

Discount on Bonds Payable

Discount on bonds payable represents the difference between the face value of a bond and its selling price, when the bond is sold for less than its face value.

Premium on Bonds Payable

The excess of a bond's selling price over its principal amount.