Which of the Following Is/are Not True Regarding Pricing for Service

question 61

Multiple Choice

Which of the following is/are not true regarding pricing for service firms?

• A)A service firm must establish a price based on the materials used to provide the service, the labor employed, an allowance for overhead, and a profit.
• B)Most service firms base their prices on an hourly rate (usually actual hours), but sometimes standard hours are used.
• C)For most service firms, labor and profit comprise the largest portion of the cost of the service.
• D)None of the above

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Definitions:

Celiac Disease

An autoimmune disorder where ingestion of gluten leads to damage in the small intestine.

Quinoa

A grain crop known for its edible seeds, which are rich in protein, fiber, and various vitamins and minerals.

Wild Rice

A type of grass that produces edible grains, often found in shallow water or flood plains, and considered a delicacy in many cuisines.

Osteoarthritis

A degenerative joint disease causing cartilage breakdown, leading to pain, stiffness, and reduced mobility in affected joints.