ACCOUNTING AND BUSINESS QUESTIONS

Accounting and Business questions

Accounting and Business questions

Questions 1

Concerning with output of organizations, there are two types of organizations output, tangible products and services products. Tangible products are goods produced by converting raw material through the use of labor and capital inputs such as plant, land and machinery. Producers of tangible products need not have direct contact with the buyers of their goods. The buyer of cars never needs to have contact with the engineers and assembly line workers that produced those cars. Organizations that produce tangible product are manufacturing organizations (Eckel & Kathryn, 1992).

Services are ...