There Are Key Differences Between a Service and a Product

question 48

Multiple Choice

There are key differences between a service and a product.Which of the following is true regarding these differences?

• A) Low-contact services as well as manufacturing require employees who are flexible, personable, and willing to work with the customer.
• B) The degree of customer contact is usually higher for manufacturing organizations than for service organizations.
• C) There is a greater degree of customer participation in the manufacture and sale of goods than there is in the sale of services.
• D) Service firms commonly require employees that are more flexible, personable, and willing to work with the customer than is true at manufacturing firms.

Apply horizontal and vertical analysis to assess a company's financial health.

Recognize the importance of comparing financial data across different companies.

Evaluate the efficiency of a company's asset utilization and its impact on profitability.

Understand how to calculate return on total assets (ROA), return on stockholders' equity (ROE), and return on common stockholders' equity (ROCE).

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Definitions:

Neural Responses

The reactions of nerve cells or neurons to external stimuli, including how they process and transmit information.

Retina

The light-sensitive layer at the back of the eye that contains photoreceptor cells, which convert light into neural signals for visual recognition by the brain.

Vision Problem

Any impairment or disorder that affects the ability to see clearly or accurately, which may require correction or treatment.

Visual Occlusion

The process or state in which visibility is obstructed, preventing sight or making it difficult to see certain objects or parts of the visual field.