A Service Organization Is an Organization That Produces Nonphysical Goods

question 144

True/False

A service organization is an organization that produces nonphysical goods that require customer involvement and cannot be stored in inventory.

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Definitions:

Disclaimer

A statement that denies responsibility or affiliation with information, goods, or services, or a renouncement of a legal claim.

Liability

A legal obligation or responsibility, often involving financial debts or compensation for losses or damages.

Injured Buyer

Refers to a purchaser who has suffered harm or damage due to misrepresentation, defective goods, or breach of warranty in a transaction, and may seek legal remedy.

Open and Obvious Risks

Hazards or dangers in a particular environment that are so apparent and recognizable that they should be avoided by anyone paying reasonable attention.