Which of the Following Is NOT a Characteristic of Service

question 53

Multiple Choice

Which of the following is NOT a characteristic of service operations?

• A) Intangible output.
• B) The buyer can perform part of the production.
• C) The product cannot be stored.
• D) Ownership is transferred at time of purchase.

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Definitions:

Annual Accounting Period

A 12-month timeframe over which a company measures its financial performance and prepares financial statements.

Chart of Accounts

A structured list of all the financial accounts in the general ledger of a company, organizing financial transactions during an accounting period.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditure to the correct period.

Insurance Premium

The amount paid for an insurance policy, typically charged monthly or annually, for the duration of the policy.