Service Products That Are Totally Intangible

question 31

Multiple Choice

Service products that are totally intangible:

• A) do not involve customer participation in a significant way.
• B) can be transported and stored.
• C) are generally nonperishable.
• D) are usually exchanged directly from producer to user.

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Definitions:

Midnight Deadline

A cutoff point often used in law and finance, indicating that transactions or actions must be completed by 11:59 PM to be considered valid for that day.

First Bank

Historically, could refer to an initial or pioneering banking institution in a region or country, often established to foster economic growth.

Business Days

Days of the week excluding weekends and public holidays during which official business activities are conducted.

Check 21 Act

A federal law that allows banks to handle more checks electronically, which speeds up the check clearing process.