Which of the Following Statements About Services Is True

question 48

Multiple Choice

Which of the following statements about services is true?

• A)In Canada, the service sector generates 70 percent of Canada's annual GDP.
• B)The marketing of services is the same as the marketing of goods.
• C)Services are both tangible and intangible items.
• D)Two out of ten Canadians work in the services industry.

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Definitions:

Raw Materials Purchases

The acquisition of the basic materials and components required for the production of goods.

Finished Unit

A product that has completed all stages of production and is ready for sale.

Production Needs

The specific resources and capacities required to complete production according to schedule, including materials, labor, and machinery.

Master Budget Process

A comprehensive financial planning document that consolidates all business operations, projecting future revenues, expenses, and cash flows.