The Traditional Division Between Goods and Services Is Outdated

question 35

Multiple Choice

The traditional division between goods and services is outdated.The shift in focus to services is a shift from the means and the producer perspective to the __________________ perspective.

• A) Necessity and income
• B) Utilization and customer
• C) Time and union
• D) Customer and employee
• E) Society and nature

---

Definitions:

Tax Rate

The proportion of income that is taken as tax from a person or business.

Goodwill

An intangible asset that arises when a company acquires another business for more than the fair value of its net assets, representing future economic benefits.

Deferred Income Tax Liability

A financial accounting term representing taxes that are owed but not yet paid, resulting from temporary differences between the IRS and accounting methods.

Income Tax Rate

The fraction of one's earnings or a company's profits that must be paid in taxes.