Which of the following is the primary source of revenue for a service business? A. the production of products from raw materials B. the purchase and resale of finished products C. providing intangible goods and services D. the sale of raw materials to manufacturing firms

Question

Want to see more full solutions like this?

Answer 1

Textbook Question

Chapter 2, Problem 1MC

Which of the following is the primary source of revenue for a service business?

A. the production of products from raw materials

B. the purchase and resale of finished products

C. providing intangible goods and services

D. the sale of raw materials to manufacturing firms

Expert Solution & Answer

To determine

Concept introduction:

An organization can be classified into manufacturing or servicing firm. The activities done under manufacturing business are manufacturing, payment to the supplier, sales and receipts from the customer.

To choose:

The primary source of revenue for a service business.

Answer to Problem 1MC

C. Providing intangible good and services

Explanation of Solution

Explanation for correct answer:

The primary source of revenue for a service business is providing intangible good and services. Hence the correct option is C.

Explanation for incorrect answers:

A. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

B. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

D. The primary source of revenue for a service business is providing intangible good and services.. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Kindly help me Accounting question

What is the amount of budgeted direct labor cost for the month of July? General accounting

Don't use ai please give me answer general accounting

Answer 2

Textbook Question

Chapter 2, Problem 1MC

Which of the following is the primary source of revenue for a service business?

A. the production of products from raw materials

B. the purchase and resale of finished products

C. providing intangible goods and services

D. the sale of raw materials to manufacturing firms

Expert Solution & Answer

To determine

Concept introduction:

An organization can be classified into manufacturing or servicing firm. The activities done under manufacturing business are manufacturing, payment to the supplier, sales and receipts from the customer.

To choose:

The primary source of revenue for a service business.

Answer to Problem 1MC

C. Providing intangible good and services

Explanation of Solution

Explanation for correct answer:

The primary source of revenue for a service business is providing intangible good and services. Hence the correct option is C.

Explanation for incorrect answers:

A. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

B. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

D. The primary source of revenue for a service business is providing intangible good and services.. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 2, Problem 1MC

Which of the following is the primary source of revenue for a service business?

A. the production of products from raw materials

B. the purchase and resale of finished products

C. providing intangible goods and services

D. the sale of raw materials to manufacturing firms

Expert Solution & Answer

To determine

Concept introduction:

An organization can be classified into manufacturing or servicing firm. The activities done under manufacturing business are manufacturing, payment to the supplier, sales and receipts from the customer.

To choose:

The primary source of revenue for a service business.

Answer to Problem 1MC

C. Providing intangible good and services

Explanation of Solution

Explanation for correct answer:

The primary source of revenue for a service business is providing intangible good and services. Hence the correct option is C.

Explanation for incorrect answers:

A. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

B. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

D. The primary source of revenue for a service business is providing intangible good and services.. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 2, Problem 1MC

Which of the following is the primary source of revenue for a service business?

A. the production of products from raw materials

B. the purchase and resale of finished products

C. providing intangible goods and services

D. the sale of raw materials to manufacturing firms

Expert Solution & Answer

To determine

Concept introduction:

An organization can be classified into manufacturing or servicing firm. The activities done under manufacturing business are manufacturing, payment to the supplier, sales and receipts from the customer.

To choose:

The primary source of revenue for a service business.

Answer to Problem 1MC

C. Providing intangible good and services

Explanation of Solution

Explanation for correct answer:

The primary source of revenue for a service business is providing intangible good and services. Hence the correct option is C.

Explanation for incorrect answers:

A. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

B. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

D. The primary source of revenue for a service business is providing intangible good and services.. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

Concept introduction:

An organization can be classified into manufacturing or servicing firm. The activities done under manufacturing business are manufacturing, payment to the supplier, sales and receipts from the customer.

To choose:

The primary source of revenue for a service business.

Answer to Problem 1MC

C. Providing intangible good and services

Explanation of Solution

Explanation for correct answer:

The primary source of revenue for a service business is providing intangible good and services. Hence the correct option is C.

Explanation for incorrect answers:

A. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

B. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

D. The primary source of revenue for a service business is providing intangible good and services.. Hence this option is incorrect.

Answer 8

Expert Solution & Answer

To determine

Concept introduction:

An organization can be classified into manufacturing or servicing firm. The activities done under manufacturing business are manufacturing, payment to the supplier, sales and receipts from the customer.

To choose:

The primary source of revenue for a service business.

Answer to Problem 1MC

C. Providing intangible good and services

Explanation of Solution

Explanation for correct answer:

The primary source of revenue for a service business is providing intangible good and services. Hence the correct option is C.

Explanation for incorrect answers:

A. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

B. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

D. The primary source of revenue for a service business is providing intangible good and services.. Hence this option is incorrect.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

Concept introduction:

An organization can be classified into manufacturing or servicing firm. The activities done under manufacturing business are manufacturing, payment to the supplier, sales and receipts from the customer.

To choose:

The primary source of revenue for a service business.

Answer 12

Answer to Problem 1MC

C. Providing intangible good and services

Answer 13

Explanation of Solution

Explanation for correct answer:

The primary source of revenue for a service business is providing intangible good and services. Hence the correct option is C.

Explanation for incorrect answers:

A. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

B. The primary source of revenue for a service business is providing intangible good and services. Hence this option is incorrect.

D. The primary source of revenue for a service business is providing intangible good and services.. Hence this option is incorrect.

Answer 14

Ch. 2 - Which of the following is the primary source of...Ch. 2 - Which of the following is the primary source of...Ch. 2 - Which of the following is the primary source of...Ch. 2 - Which of the following represents the components...Ch. 2 - Which of the following represents the components...Ch. 2 - Which of the following represents the components...Ch. 2 - Conversion costs include all of the following...Ch. 2 - Which of the following is not considered a product...Ch. 2 - Fixed costs are expenses that...Ch. 2 - Variable costs are expenses that...

Which of the following is the primary source of revenue for a service business? A. the production of products from raw materials B. the purchase and resale of finished products C. providing intangible goods and services D. the sale of raw materials to manufacturing firms

Answer to Problem 1MC

Explanation of Solution

Want to see more full solutions like this?

Chapter 2 Solutions

Additional Business Textbook Solutions