Select the Incorrect Statement Regarding Service Companies

question 5

Multiple Choice

Select the incorrect statement regarding service companies.

• A) Because service companies do not carry inventory, it is impossible to determine product costs.
• B) Because the products of service companies are consumed immediately, there is no finished goods inventory on their balance sheets.
• C) Managers of service companies are expected to control costs, improve quality, and increase productivity just like managers of manufacturing companies.
• D) Material, labor, and overhead costs of service companies are treated as period costs.

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Definitions:

Combination Résumé

A type of résumé that highlights both a job seeker's skills and work history, blending the functional and chronological résumé formats.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various means.

Employment Background

The history of a person's work experience, education, and other qualifications relevant to their job suitability.

Career Change

A career change involves shifting from one job or profession to another, often requiring new skills, training, or education.