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Explain What Is Meant by the Term utility

question 20

Essay

Explain what is meant by the term utility.What type of utility is created when a pharmacy changes its evening schedule to remain open for an extra hour in response to customer needs?


Definitions:

Credited

A bookkeeping record that augments liabilities or equity, or diminishes an asset or expense.

Assets

Assets are resources owned by a business or individual that have economic value and can be converted into cash or provide future benefits.

Decreased

A reduction in size, number, or amount of something from a previous level.

Credit

A financial agreement where a borrower receives something of value now and agrees to repay the lender at a future date.

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