A Service Is ___________________ in the Sense That the Client/customer

question 52

Short Answer

A service is ___________________ in the sense that the client/customer cannot judge the quality of the product before actually obtaining it.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that is used globally.

U.S. GAAP

United States Generally Accepted Accounting Principles, which are a set of rules and standards for financial reporting and accounting practices in the U.S.

Straight-Line Method

A method of calculating depreciation of an asset by evenly spreading the cost over its useful life.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that are globally accepted.