Service ________ Means That Services Cannot Be Seen, Tasted, Felt

question 122

Multiple Choice

Service ________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

• A) inseparability
• B) variability
• C) intangibility
• D) perishability
• E) heterogeneity

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Definitions:

Owner's Equity

The owner's residual interest in the assets of the business after deducting liabilities, representing ownership value in a company.

Owner's Equity

The residual interest in the assets of the enterprise after deducting its liabilities, also known as shareholder's equity.

Net Income

The final amount of money a company makes after taking away all expenses, including taxes and the costs of operation, from the total income.

Owner Drawings

Amounts withdrawn by the owner of a business for personal use, reducing the owner's equity in the business.