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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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What is the difference between a product and a service? Give an example of each.

To determine

State the difference between a product and a service with the help of examples.

Explanation

Products and Services:

Products can be defined as the final goods manufactured by the company with the help of raw materials. Services can be defined as the activities or the tasks executed by the representative of the company for the customer with the help of the organization’s facility and products.

The following table represents the difference between a product and a service:

BasisProductService
NatureA product is tangible in nature...

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