A Service Is Not a "Product" Because Services Do Not

question 374

True/False

A service is not a "Product" because services do not include any physical good.

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Definitions:

Sales Dollar

A term representing the total dollar amount generated from sales transactions within a specific period.

Return on Assets

A financial ratio that measures the profitability of a company in relation to its total assets, indicating how efficiently the company is using its assets to generate profit.

Management

The process of planning, organizing, leading, and controlling resources within an organization to achieve its goals.

Profits

The financial gains obtained when revenues exceed the costs and expenses incurred in operating a business.