Tutoring Is an Example of A(n)________ Service

question 83

Multiple Choice

Tutoring is an example of a(n) ________ service.

• A) repair
• B) owned-goods
• C) nongoods
• D) rented-goods

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Definitions:

After-Tax Profit

The profit a company has left after paying all its taxes.

Tax Rate

The proportion of income that the government taxes an individual or business.

Profit and Loss Statement

A financial statement that summarizes revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.

Total Contribution Margin

The difference between total sales revenue and total variable costs, indicating how much revenue is available to cover fixed costs and generate profit.