Production Technology Has Had a Major Impact on Services, but as Yet

question 78

True/False

Production technology has had a major impact on services, but as yet there has been little reduction in service labor requirements.

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Definitions:

Statement Of Cash Flows

A financial report that provides aggregate data regarding all cash inflows a company receives from its ongoing operations, financial investments, and external financing, as well as all cash outflows that pay for business activities and investments during a given period.

Accounts Receivable

Money owed to a company by its customers for goods or services delivered but not yet paid for.

Inventory

Goods and materials that a business holds for the ultimate goal of resale, production, or utilization in manufacturing.

Net Cash

The difference between cash inflows and outflows within a given period.