Services Are Consider Intangible Because Most Services Cannot Be Felt

question 154

True/False

Services are consider intangible because most services cannot be felt or touched in the same way most goods can be sensed.

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Definitions:

Invested Assets

Invested assets refer to the resources that have been allocated by an individual or company toward investments with the expectation of generating future profits.

Total Assets

The sum of all resources controlled by a company as a result of past transactions, expected to provide future economic benefits, including both current and non-current assets.

Transfer Price

The price at which goods and services are sold between divisions within the same company.

Excess Capacity

The unused production capability of a company, indicating that the company can produce more than is currently being demanded.