Which of the Following Statements Is Most Likely True

question 58

Multiple Choice

Which of the following statements is most likely true?

• A) Products are tangible but not intangible.
• B) Products contain many value-added features.
• C) Salespeople sell goods and services but not products.
• D) Product is a term that refers to both goods and services.
• E) Three general types of products exist: consumer, industrial, and global.

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Definitions:

Primary Payer

The insurance policy or program that pays first on a claim for medical care, determining the extent of coverage before any secondary payer contributes.

Employer-provided Insurance

Health insurance coverage provided to employees (and often their families) as part of an employment benefit package.

Birthday Rule

A rule that states that the insurance policy of a policyholder whose birthday comes first in the year is the primary payer for all dependents.

Birthday Rule

An insurance policy determination rule that establishes priority of coverage for a child when covered by both parents' plans; typically, the parent whose birthday occurs first in the calendar year holds the primary plan.