The Two Main Classifications of Business Products Are

question 60

Multiple Choice

The two main classifications of business products are

• A) durable and nondurable products.
• B) components and support products.
• C) tangible and intangible products.
• D) consumer and industrial products.
• E) derived and maintenance products.

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Definitions:

Tax Rate

The percentage at which an individual or corporation is taxed by the government.

Sales Tax

A consumption tax imposed by the government on the sale of goods and services.

Valuation Rate

The estimated or assessed value of an asset or liability for accounting and tax purposes.

Market Value

The current price at which an asset or service can be bought or sold in a market.