Intangible Items Such as Theater Performances,legal Advice,or Music Streaming That

question 98

Multiple Choice

Intangible items such as theater performances,legal advice,or music streaming that an organization provides to consumers are referred to as

• A)production goods.
• B)support products.
• C)services.
• D)goods.
• E)benefits.

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Definitions:

Transfer Of Possession

The act of moving control or ownership of an asset from one party to another.

Bailee

A Bailee is a person or entity that has temporary possession of someone else's property under a bailment agreement.

Bailor

A bailor is a person or entity that entrusts their property to another (the bailee) under a bailment agreement, where the property is to be returned or otherwise disposed of according to the bailment terms.

Bailee Liability

The legal responsibility of a bailee, someone temporarily holding property for another, for damage or loss of the property.