Discuss the Importance of Services in the U

question 13

Essay

Discuss the importance of services in the U.S. economy, and explain the growth of services in our economy.

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Definitions:

Acquisition Date

The specific date on which control of the assets of an acquired company is transferred to the buyer.

Deferred Tax Item

A financial item on the balance sheet that arises due to timing differences between the recognition of income and expenses for accounting and tax purposes.

Goodwill

An intangible asset that arises when a business is purchased for more than the fair value of its separate net assets.