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What are the characteristics of services compared with goods?
Goods are a tangible item where services are not tangible that provide a value to a consumer.
What refers to an item of economic value owned by a corporation?
An item of economic value owned by a corporation is referred to as an "asset." Assets can include tangible items like property, equipment, and inventory, as well as intangible items such as patents, trademarks, and goodwill. They are essential for a company's operations and are recorded on the balance sheet, reflecting the corporation's financial health and capability to generate revenue.
Why is lumber considered a commodity?
A commodity is any item which can fufuill a market desire or need. Lumber is considered a commodity because it can be bought and sold to fufill a desire or need in the economy.
What is the definition of a pure goods?
Pure goods are products that are tangible and do not involve any services or intangible elements. They are physical items that can be seen, touched, and stored, such as food, clothing, and electronics. Unlike hybrid goods, which combine both goods and services, pure goods focus solely on the physical attributes and benefits of the item itself.
What can be an economic good?
An economic good is a tangible or intangible item that satisfies human wants and has value in the marketplace. Examples include physical goods like food, clothing, and electronics, as well as services like healthcare and education. Economic goods are characterized by scarcity, meaning they are limited in supply relative to demand. This creates a basis for trade and pricing in an economy.
Is kennametal a commodities stock?
Kennametal is completely a commodities stock because the company produced a tangible item and a tangible item is considered a commmoditie in todays economy. Also, the company must first actually have stock in order to have a commoditie stock too.
Are stocks tangible or intangible?
is a payed off automobile an intangible or tangible item ??
What are the characteristics of services compared with goods?
Goods are a tangible item where services are not tangible that provide a value to a consumer.
Is medicine a tangible item?
yes. you can see it, touch it, etc.
Is food an intangible item?
Food is a physical item, meaning that you can touch and feel it. Therefore, it is not intangible; it is tangible.
What is Tangible features?
Tangible features are physical characteristics or attributes of a product or item that can be seen, touched, or measured. These features include things like size, shape, color, weight, texture, and materials used in the product's construction. Tangible features are often considered the more concrete aspects of a product that directly impact its usability and appearance.
Is a check tangible personal property?
Yes, a check is considered tangible personal property because it is a physical document that represents a monetary value. It can be touched and held, distinguishing it from intangible property like digital assets or intellectual property. While the value it represents is an obligation to pay, the check itself is a tangible item that can be transferred or deposited.
What do they mean when they say something is allocated?
A part(allocation) of something, is given(allocated) to someone. The thing to be allocated can be anything, for example, it can be a non-tangible item like responsibilty, or it can be a tangible item, example a piece of land, or a desk in an office.
What does non tangible mean?
Tangible able to be touched; material or physical, real or substantial. So for instance for Christmas someone may give you a new fry pan, that is tangible. A non tangible item would be like if someone came and helped you clean your house as a gift, or giving you I.O.U for a massage just for example. Even ecards are non tangible. Basically things that are not physical and non tangible. Although you can see the ecard and touch the computer screen, you can't physically touch or hold the ecard, and although you can hold the card with an I.O.U on it, you can't physically hold the massage. Hope this helps.
Intangible assets are not listed on the balance sheet because they do not have physical substance true or false?
TRUE. A characteristic of an asset is that it is tangible, which means they have a physical substance.An item with a physical substance is considered to be an asset if: * It is probable that the items future economic benefits will flow to the entity; and * the cost of the item can be measured reliably
Is a tangible object an abstract noun?
No, a tangible object is a concrete noun, as it refers to something that can be perceived by the senses. Abstract nouns, on the other hand, refer to concepts or ideas that cannot be physically touched or seen.
What is the definition of material defect?
a defect in any item, whether tangible or intangible, or in the provision of a service, that substantially prevents the item or service from operating or functioning as designed or according to its specifications.
