Services Can Be Classified According to Whether They Are Delivered

question 41

Multiple Choice

Services can be classified according to whether they are delivered by people or equipment, __________, or government agencies.

• A)national or global
• B)use independent contractors
• C)privately owned or publicly owned
• D)owned by individuals or corporations
• E)business firms or nonprofit organizations

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Definitions:

Accounts Payable

A current liability account that represents amounts owed by a business to creditors for purchases or services received.

Office Supplies

Items such as pens, paper, and other materials used for daily operations in an office setting.

Accounts Receivable

Debts owed by customers to a business for goods or services already provided but unpaid.

Accounts Payable

Liabilities of a company or individual that are due to creditors within a short period of time, typically for purchases of goods or services.