Each Time a New Product or Service or an Improvement

question 19

True/False

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a design and development process.

---

Definitions:

Machinery and Equipment

Assets that include heavy machinery and other equipment used in the production or supply of goods and services.

Repairs

Expenditures to maintain the operational status of assets, rather than to improve or extend their life.

Office Equipment

Tangible items such as computers, desks, and chairs used to facilitate operations in a corporate office setting.

Land

A natural resource not man-made, referring to the earth's surface extending downward to the center of the earth and upward to infinity, including permanently attached natural objects.