Which of the Following Is an Example of a Service

question 190

Multiple Choice

Which of the following is an example of a service?

• A) medical care
• B) dental care
• C) a psychology lecture
• D) a television set
• E) a,b and c

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Definitions:

Indirect Method

A cash flow statement preparation method that adjusts net income for the changes in balance sheet accounts to calculate the cash from operating activities.

Depreciation

The methodical distribution of a physical asset's cost across its lifetime, reflecting the asset's depreciation, wear, and eventual obsolescence.

Fixed Assets

Long-term tangible assets, such as buildings, machinery, and equipment, used in the operations of a business and not intended for resale.

Investing Activity

Transactions involving the purchase or sale of long-term assets and other investments, part of a company's cash flow statement.