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Before toll-free telephone numbers and the Internet were used as commercial tools,fliers usually purchased airline tickets from travel agents.Travel agents no longer receive a commission from the airlines for selling tickets to consumers.This is an example of:
Intangible Assets
Assets that lack physical substance but have value due to the rights and advantages they provide to the business, such as patents, copyrights, and trademarks.
Uncertain Benefits
Advantages or gains that are not guaranteed or clearly defined, often associated with investments or business ventures.
Physical Form
Refers to the tangible structure or configuration of an object, particularly indicating its real, material state as opposed to a digital or conceptual form.
Retained Earnings
The cumulative net income of a company that is retained within the company for reinvestment, rather than being paid out as dividends.
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