Services Are Usually Provided Through ____ Directed at People or Objects

question 84

Multiple Choice

Services are usually provided through ____ directed at people or objects.

• A) tangible and intangible products
• B) physical labor
• C) the application of human or mechanical efforts
• D) ideas and other intangible efforts
• E) knowledge and technology

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Definitions:

Expenses

The outflow of money or other resources from a person or company to pay for goods or services.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue and expenses to show net income or loss.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Expenses

Outflows of resources or incurrences of liabilities that result in a decrease in the equity of a company, other than distributions to owners.