Intangible Items Such as Airline Trips, Financial Advice, or Telephone

question 169

Multiple Choice

Intangible items such as airline trips, financial advice, or telephone calls that an organization provides to consumers are referred to as

• A) production goods.
• B) support products.
• C) services.
• D) goods.
• E) benefits.

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Definitions:

Percentage of Sales

A financial ratio that compares a company’s various expenses, investments, or profits as a percentage of total sales.

Greatest Use of Funds

The most efficient or impactful way in which an organization chooses to allocate and use its financial resources.

Accounts Receivable

Refers to the money owed to a company by its customers for goods or services already delivered but not yet paid for.

Accounts Payable

Liabilities of a business that are due to be paid to creditors within a short period of time, typically within a year.