Consumers often spend a great deal of time and money doing research to purchase a specific service. These consumer products are referred to as
A) production services.
B) specialty services.
C) convenience services.
D) industrial services.
E) shopping services.
Answer: B
Explanation: B) Consumers usually decide on precisely what they want and will accept no substitutes. They often go from source to source, sometimes spending a great deal of money and time to get a specific product.
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Because of the risk of material misstatement, an audit of financial statements in accordance with generally accepted auditing standards should be planned and performed with an attitude of:
A. impartial conservatism. B. independent differentialism. C. objective cynicism. D. professional skepticism.
Under the Resource Conservation and Recovery Act, most of the wastes defined as hazardous are subject to:
A. refrain from following any procedures in the handling of the wastes. B. on-site treatment before it enters the sewer system. C. proper disposal without treatment and storage. D. a "cradle to the grave" tracking system.
Other postretirement benefits should be expensed
A) on the employee's retirement date. B) as they are received by the employee. C) when the employee is hired. D) as the employee earns them.
Which of the following statements is CORRECT?
A. If a firm follows the residual dividend model, then a sudden increase in the number of profitable projects would be likely to lead to a reduction of the firm's dividend payout ratio. B. The clientele effect explains why so many firms change their dividend policies so often. C. One advantage of adopting the residual dividend model is that this policy makes it easier for a corporation to attract a specific and well-identified dividend clientele. D. New-stock dividend reinvestment plans are similar to stock dividends because they both increase the number of shares outstanding but don't change the firm's total amount of book equity. E. Investors who receive stock dividends must pay taxes on the value of the new shares in the year the stock dividends are received.