Price Includes Both Tangible Costs and Intangible Commodities

question 14

Multiple Choice

Price includes both tangible costs and intangible commodities.Which of the following is not an intangible commodity?

• A) Effort
• B) Time
• C) Fee for service
• D) Inconvenience

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Definitions:

Legislation

The process of making or enacting laws; it also refers to the laws themselves that have been created through this process.

Unlimited Joint Liability

A legal obligation among partners that holds each personally responsible for the total debts of a partnership without limits.

Capital Accounts

Financial records that show the ownership equity in a company, including initial capital contributions, retained earnings, and withdrawals by owners.