Products and Services Can Be Used to Represent Different Services

question 14

True/False

Products and services can be used to represent different services or goods.

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Definitions:

Promoter

In a business context, a promoter is an individual or entity involved in organizing and starting a company, raising capital, and taking the necessary steps to establish it.

Unincorporated Business

A business structure without a separate legal entity from its owner, where the owner is personally responsible for the business's debts and obligations.

Specialized Equipment

Tools or machinery designed for a specific, often technical or industrial, purpose, necessitating particular skills for operation.

Known Principal

A principal whose identity is disclosed to the third party by the agent at the time of a particular transaction.