An Organisation That Produces Non-Physical Outputs That Require Customer Involvement

question 67

Multiple Choice

An organisation that produces non-physical outputs that require customer involvement and cannot be stored in inventory is referred to as a(n) :

• A) manufacturing organisation
• B) non-inventory organisation
• C) operations management organisation
• D) service organisation
• E) consumer-driven organisation.

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Definitions:

Lawful Maximum

The highest limit allowed by law, often referring to interest rates, fees, or other financial charges.

Interest Rate

An Interest Rate is the percentage charged on the total amount of borrowed money or paid on savings, over a specific period of time.

Legally Binding

A term applied to agreements or contracts that have legal force, meaning they are enforceable by law.

Contracts

Legally enforceable agreements between two or more parties that create mutual obligations.