Answer:
Answer is described below.
Explanation:
POINTS TO NOTE:
1. Each house will be built using one (only one) of three major building materials - wood, brick, concrete.
2. The linear (in a line or side-by-side) arrangement of the houses will be such that no house will have the same material as the one beside it.
3. The cost of materials for each house will vary.
ANSWER: The minimum cost needed to complete the neighborhood depends on two things;
- The cost of each type of house (cost of a wood house, cost of a brick house, cost of a concrete house)
- The number of each type of house to be built. Or, the number of houses to be built; bearing in mind that they must be arranged without consecutive repetition. Hence, how much will a wood house cost? How much will a brick house cost? How much will a concrete house cost?
Knowing these, the minimum cost needed to complete the neighborhood can be found. If it's going to be 6 houses in the neighborhood for instance and a wood house costs $40, a brick house costs $50 and a concrete house costs $60; the minimum cost to set up the neighborhood will be:
2(40) + 2(50) + 2(60) = 80+100+120 = $300
The number of each type of house will be 2 because same-material houses cannot stay side-by-side. If the rule wasn't there and all the houses were to be concrete, the total cost would be 6(60) = $360
The Work in Process inventory account of a manufacturing Corporation shows a balance of $5,446 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $880 and $380 for materials, and charges of $660 and $1,160 for direct labor. From this information, it appears that the Corporation is using a predetermined overhead rate, as a percentage of direct labor costs, of:
Answer:
130%
Explanation:
The computation of the predetermined overhead rate is as follows
Manufacturing overhead is
= $5,446 - ($880 + $360 + $660 + $1,160)
= $2,366
Total direct labor is
= $660 + $1,160
= $1,820
Now as we know that
Manufacturing overhead = Predetermined overhead rate × Direct labor
It can be rewrite as
Predetermined overhead rate = Manufacturing overhead ÷ Direct labor
= $2,366 ÷ $1,820
= 130%
Lusk Corporation produces and sells 15,800 units of Product X each month.
The selling price of Product X is $28 per unit, and variable expenses are $22 per unit.
A study has been made concerning whether Product X should be discontinued.
The study shows that $72,000 of the $108,000 in fixed expenses charged to Product X would not be avoidable, even if the product was discontinued.
If Product X is discontinued, the company's overall net operating income would:______.
a. decrease by $58,800 per month
b. Increase by $13,200 per month
c. increase by $49,200 per month
d. decrease by $49,200 per month
Answer:
a. decrease by $58,800 per month
Explanation:
The computation is shown below;
Particulars Amount
Contribution from product X $94,800 ($28 - $22) × 15,800 units
Less: Fixed cost -$108,000
Net loss avoided -$13,200
Non-avoidable fixed cost $72,000
The Total cost in case the product fall $58,800
Hence, the correct option is a.
Mary saw a bangle bracelet at an accessories shop that she liked and told her friend Susan that the most she would pay for it was $38.00. When she found out the price was $33.50, she immediately bought it and gained $
nothing in consumer surplus. (Enter your response rounded to two decimal places)
If Mary was to buy another bangle bracelet, her additional consumer surplus would
▼
.
Answer:
$4.50 and =$9.00
Explanation:
Consumer surplus is the difference between what a consumer is willing to pay for a good or service and its market price.
i.e., Consumer surplus = maximum willing price - actual price
Mary is willing to pay $38.00, and the market price is $33.50 .
The consumer surplus = $38 - $33.50
=$4.50
If Mary buys a second bracelet, total consumer surplus would be
=$4.50 x 2
=$9.00
Indirect labor includes:_________ (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
a. labor of employees working directly on the product.
b. labor of the maintenance employees.
c. labor of the clerical staff.
Answer:
b labor of the maintenance employees
c labor of the clerical staff
Explanation:
During the production or composition of finished goods, some form of labors are directly or indirectly involved in the manufacturing of such finished product. Where labor is not readily traced to the manufacturing of finished product, such is known as indirect labor.
On the other hand, labor that is directly involved in the composition of finished product is known as direct labor. Examples of indirect labor are ; wages of supervisors , clerical staff, general helpers , material handlers and maintenance workers.
Chang, an Non Resident Alien, is employed by Fisher, Inc., a foreign corporation. In November, Chang spends 10 days in the US performing consulting services for Fisher’s U.S. branch. She earns $5,000 per month. A month includes 20 workdays. How much is her U.S.-sourced income, is it exempt or non-exempt, and why?
Answer and Explanation:
The computation of the amount considered as US sourced income is as follows;
= $5,000 × 10 days ÷ 20 days
= $2,500
The following are the requirement related to the fully exempt US source income is as follows:
1. The service should be perfomed by an United States NRA for 90 days or less
2. The compensation should not be more than $3,000
3. The service should be performed on behalf of
a. NRA, foreign corporation or partnership who not engaged in US trade
b. The office should be maintained in US by an individual who should be the citizen of US
So the same is not allowed for exemption
A retail store has three departments, S, T, and U, and does general advertising that benefits all departments. Advertising expense totaled $47,000 for the year, and departmental sales were as follows. Allocate advertising expense to Department T based on departmental sales.
Department S $109,000
Department T 218,850
Department U 142,150
Total 470,000
a) $47,000.
b) $21,885.
c) $10,900.
d) $16,567.
e) $13,900.
Answer:
Allocated advertising = $21,885
Explanation:
Giving the following information:
Advertising expense= $47,000
Sales:
Department S $109,000
Department T 218,850
Department U 142,150
Total 470,000
First, we need to calculate the proportion of sales of Department T:
Sales proportion Department T= 218,850 / 470,000= 0.4656
Now, we can allocate advertising costs:
Allocated advertising = 47,000*0.4656
Allocated advertising = $21,884
8-4 Valuing Commercial Real Estate BuildingOne Properties is a limited partnership formed with the express purpose of investing in commercial real estate. The firm is currently considering the acquisition of an office building that we refer to simply as building B. Building B is very similar to building A, which recently sold for $36,960,000. BuildingOne has gathered general information about the two buildings, including valuation information for building A:
Answer:
the question is incomplete:
Buildings A and B are similar in size (80,000 and 90,000 square feet, respectively). However, the two buildings differ both in maintenance costs ($23 and $30 per square foot) and rental rates ($100 versus $120 per square foot). At this point, we do not know why these differences exist. Nonetheless, the differences are real and should somehow be accounted for in the analysis of the value of building B using data based on the sale of building A. Building A sold for $462 per square foot, or $36,960,000. This reflects a sales multiple of six times the building’s net operating income (NOI) of $6,160,000 per year and a capitalization rate of 16.67%.
NOI of building A = ($100 x 80,000 ft²) - ($23 x 80,000 ft²) = $6,160,000
NOI of building B = ($120 x 90,000 ft²) - ($30 x 90,000 ft²) = $8,100,000
building B's market value = NOI / capitalization rate = $8,100,000 / 0.1667 = $48,600,000
property value = $48,600,000 / 90,000 ft² = $540 per ft²
A purchase ledger control account contains the totals of accounts for:
A. Income of the business
B. Suppliers who provide goods on credit
C. Expenses of the business
D.Customers who buy goods on credit.
E. None of these
Company A purchases cases of fertilizer for its lawn-care business from a supplier who charges $30 per order and $50 per case. Each case consists of five bags of fertilizer. Company A needs 2,000 bags of fertilizer a year. Company A’s annual holding costs are 30%. If Company A only has room to hold 25 cases of fertilizer, how many cases should Company A order each time to minimize the total holding and ordering cost?
Answer:
EOQ = √2DS/H
Annual demand = 2000 bags/5 = 400 cases
Order cost = $030
Holding cost = 50*0.30 = $15
EOQ = √2*400*30/15
EOQ = √1600
EOQ = 40
The Economic order quantity = 40. In order to minimize the total cost, the company should order 40 units. However, since Company A only has room to hold 25 cases of fertilizer, therefore, it should order 25 cases each time.
You have an absolutely brilliant child who is six years old and will be attending a private college in twelve years. You know that a four-year college now costs at least $30,000 per year, including tuition, books, and room and board. The cost of sending a child to college has increased by 7 percent per year, and you believe this will be true for the next twelve years. How much will the annual tuition be when your child is eighteen
Answer:
$270,263
Explanation:
Costs = $30,000 per year
Cost for 4 years = $30000*4 = $120,000
A = P(1+r/100)^n
A = 120000*(1+0.07/100)^12
A = 120000*2.252191
A = 270262.92
A = $270,263
Therefore, the annual tuition when the child is eighteen will be $270,263.
On January 1, Vermont Corporation had 48,400 shares of $9 par value common stock issued and outstanding. All 48,400 shares had been issued in a prior period at $22 per share. On February 1, Vermont purchased 910 shares of treasury stock for $24 per share and later sold the treasury shares for $18 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a
Answer:
Debit to Treasury Stock for $21,840
Explanation:
Cost = Number of Stock * Cost per Stock
Cost = 910 shares * $24
Cost = $21,840
Date Accounts Debit Credit
Feb 1 Treasury Stock $21,840
Cash $21,840
Note: When company reacquire its outstanding shares and not retire, it is called treasury stock.
Which describes a type of tax that people pay on more they earn?
A. Flat tax
B. Income tax
C. Purchase tax
D. Progressive tax
Olive, the owner of Olive’s Orchard, contracts to sell its harvest to Pure Foods, Inc. Later Olive refuses to perform. Pure Foods files a suit to enforce the contract. Olive and Pure Foods are in a state that does not recognize the doctrine of unconscionability. To defend successfully against enforcement of the contract on similar grounds, Olive might rely on traditional notions of a. materiality. b. mistake. c. value. d. fraud.
Answer:
D)fraud
Explanation:
From the question, we are informed about Olive, the owner of Olive’s Orchard, contracts to sell its harvest to Pure Foods, Inc. Later Olive refuses to perform. Pure Foods files a suit to enforce the contract. Olive and Pure Foods are in a state that does not recognize the doctrine of unconscionability. To defend successfully against enforcement of the contract on similar grounds,. In this case, Olive might rely on traditional notions of a fraud. Fraud can be regarded as an act of deception which is intentional to deprive those that fall for it their legal right. It is activities that gives the perpetrator an unlawful gain or to deny a victim their right. It is carried out by people to get financial or personal gain in an unlawful manner. Some types of fraud that are common are are tax fraud, bankruptcy fraud. as well as credit card fraud,
If the Fed were to unexpectedly increase the money supply, creditors would gain at the expense of debtors. a. True b. False
Answer: False
Explanation:
It should be noted that when the Fed unexpectedly increase the money supply, the debtors would gain at the expense of the creditors.
This is because when the Fed increase the money supply, there will more money in circulation which means that money will lose its value. In this case, the debtor gains at the expenses of the creditor because when the creditor collects the money back, it won't be as valuable as before as the value has reduced
Lowell Inc. had a receivable from a foreign customer that is due in the local currency of the customer (stickles). On December 31, 2021, this receivable for §200,000 was correctly included in Lowell’s balance sheet at $167,000. When the receivable was collected on February 15, 2022, the U.S. dollar equivalent was $181,000. In Lowell's 2022 consolidated income statement, how much should have been reported as a foreign exchange gain?
Answer:
the amount reported as a foreign exchange gain is $14,000
Explanation:
The computation of the amount reported as a foreign exchange gain is shown below;
= receivables as on Feb 15 2022 - receivable as on December 31 2021
= $181,000 - $167,000
= $14,000
hence, the amount reported as a foreign exchange gain is $14,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
can a country expereince economic growth without economic develooment ?
On July 1, 2018, Larkin Co. purchased a $440,000 tract of land that is intended to be the site of a new office complex. Larkin incurred additional costs and realized salvage proceeds during 2018 as follows: Demolition of existing building on site Legal and other fees to close escrow Proceeds from sale of demolition scrap $65,000 13,500 9,400
What would be the balance in the land account as of December 31, 2018?
a) $440,000.
b) $505,000.
Answer:
The balance in the land account as of December 31, 2018 woulf be $509,100.
Explanation:
Note: The data in the question are merged together. They are therefore sorted before answering the question by representing the question as follows:
On July 1, 2018, Larkin Co. purchased a $440,000 tract of land that is intended to be the site of a new office complex. Larkin incurred additional costs and realized salvage proceeds during 2018 as follows:
Demolition of existing building on site = $65,000
Legal and other fees to close escrow = $13,500
Proceeds from sale of demolition scrap = $9,400
What would be the balance in the land account as of December 31, 2018?
The explanation to the answer is now given as follows:
The balance in the land account as of December 31, 2018 can be calculated using the following formula:
Balance in the land account as of December 31, 2018 = Purchase price + Demolition of existing building on site + Legal and other fees to close escrow - Proceeds from sale of demolition scrap ..................... (1)
Substituting the relevant values from the question into equation (1), we have:
Balance in the land account as of December 31, 2018 = $440,000 + $65,000 + $13,500 - $9,400 = $509,100
Therefore, the balance in the land account as of December 31, 2018 woulf be $509,100.
What are examples of professional organizations? Check all that apply.
Answer:
AABB (formerly American Association of Blood Banks)
Academy of International Business (AIB)
Academy of Management (AOM)
American Institute of Certified Public Accountants (AICPA)
Association for the Advancement of Cost Engineering (AACE International)
Association for Computing Machinery (ACM)
Michelle Duncan wants to know what price home she can afford. Her annual gross income is $54,000. She owes $810 per month on other debts and expects her property taxes and homeowners insurance to cost $170 per month. She knows she can get an 6.00%, 30-year mortgage so her mortgage payment factor is 6.00. She expects to make a 15% down payment. What is Michelle's affordable home purchase price?a. $52.940.b. $950.c. $128,560.d. $126100.e. $960.
Answer:
$143137.25
Explanation:
Given that:
The annual gross income = $54000
The monthly gross income = $54000/12
= $4500
Using the PITI guideline, a mandatory expense of 38% of monthly income is applied.
So;
Expense = $4500 × 38% = $1710
Additional Monthly debt = $810
Cost of Prop. Taxes and H.O insurance = $170
Monthly Balance left = $1710 - $(810 + 170) = $730
Mortgage payment factor = 6.00
Monthly mortgage payment = [tex]\dfrac{monthly \ balance \ left }{ Mortgage \ payment \ factor }\times 1000[/tex]
[tex]=\$ (\dfrac{730}{6.00 })\times 1000[/tex]
= $121666.67
Affordable home purchase price = [tex]\dfrac{monthly \ mortgage \ payment }{1 - percentage \ of \ down \ payment}[/tex]
[tex]= \dfrac{ \$121666.67}{1- 0.15}[/tex]
[tex]= \dfrac{\$121666.67}{0.85}[/tex]
= $143137.25
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 35,000 pounds Standard price of direct materials $ 8.00 per pound Material price variance $ 7,000 Unfavorable Material quantity variance $ 7,500 Favorable The actual price per pound of direct materials purchased in June was: Multiple Choice $7.76 per pound $8.00 per pound $8.20 per pound $8.24 per pound
Answer:
$8.20 per pound
Explanation:
The computation of the actual price per pound is shown below:
Material price variance = (Standard price per pound - Actual price per pound) × Actual quantity purchased
-$7,000 = ($8.00 - Actual price per pound) × 35,000
$8.00 - Actual price per pound = -$7,000 ÷ 35,000
Actual price per pound = $8.20 per pound
Hence, the actual price per pound is $8.20 per pound
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Concord Corporation sells its product for $50 per unit. During 2019, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $9, direct labor $11, and variable overhead $4. Fixed costs are: $720000 manufacturing overhead, and $90000 selling and administrative expenses. The per unit manufacturing cost under absorption costing is $36. $38. $24. $20.
Answer:
unitary manufacturing cost= $36
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
First, we need to calculate the unitary fixed manufacturing overhead:
unitary fixed manufacturing overhead= 720,000 / 60,000
unitary fixed manufacturing overhead= $12
Now, we can determine the unitary manufacturing cost:
unitary manufacturing cost= 9 + 11 + 4 + 12
unitary manufacturing cost= $36
Consider an individual who currently earns $20,000 as an unskilled laborer. Suppose that by taking courses full-time at a community college for one year, the person can qualify for a more skilled job paying $23,000 that is guaranteed to last for 10 years (after which the person would retire). Assume the cost of tuition and books at the community college for one year is $2,000 and that the current interest rate is 6%. Is this a good investment
Answer:
investing in these college courses will increase this individual's wealth by $20,080, so it is a good idea
Explanation:
First of all, education is always a good investment. But we still need to analyse this situation like any other project:
initial outlay year 0 = $2,000 tuition costs
cash flows years 1 - 10 = $23,000 - $20,000 = $3,000
NPV = - initial outlay + PV of cash flows
PV of cash flows = $3,000 x 7.3601 (PV annuity factor, 6%, 10 periods) = $22,080
NPV = -$2,000 + $22,080 = $20,080
Taco Time Corporation is evaluating an extra dividend versus a share repurchase. In either case, $22,000 would be spent. Current earnings are $3.70 per share, and the stock currently sells for $91 per share. There are 4,000 shares outstanding. Ignore taxes and other imperfections. What will the company’s EPS and PE ratio be under the two different scenarios? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Answer:
Under extra dividend:
EPS = $3.70
PE ratio = 23.11
Under Share Repurchase:
EPS = $3.94
PE ratio = 23.10
Explanation:
These can be calculated as follows:
Under extra dividend:
Dividend per Share = Amount to spend / Number of shares outstanding = $22,000 / 4,000 = $5.50
Stock Price per share after Dividend payment = Current stock price per share - Dividend per share = $91 - $5.50 = $85.50
EPS = Current EPS = Current Earning per share = $3.70
PE ratio = Price Earning ratio = Stock Price per share after Dividend payment / Current EPS = $85.50 / $3.70 = 23.11
Under Share Repurchase:
Shares repurchased = Amount to spend / Current stock price per share = $22,000 / $91 = 241.758241758242 shares
Current EPS before Share repurchase = $3.70
Total Earnings = Current EPS before Share repurchase * Number of shares outstanding = $3.70 * 4,000 = 14,800
Earnings per Share after Share repurchase = Total Earnings / (Number of shares outstanding - Shares repurchased) = $14,800 / (4,000 - 241.758241758242) = $3.94
P/E Ratio = Current stock price per share / Earnings per Share after Share repurchase = $91 / $3.94 = 23.10
why does this app suck i a way? i looked at this question: The managers want to know how many boxes of 12 cookies can be filled with the 3,258 cookies that have been baked. Fatima starts by subtracting the largest number of boxes she can easily calculate. She knows that 100 boxes of 12 cookies can be put into one crate. How many crates can be filled from the total of 3,258 cookies?
then an expert verified its 3 so i put it in and it said incorrect. am i not getting something or is it maybe incorrect in my platform?
Answer:
this app is fine, it has helped me a lot
Explanation:
BUT, you shouldnt rely on it all the time, unless you're genuinely struggling on grasping a topic I suggest trying to teach to yourself.
Adelberg Company has two products: A and B. The annual production and sales of Product A is 1,900 units and of Product B is 1,300 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.4 direct labor-hours per unit and Product B requires 0.7 direct labor-hours per unit. The total estimated overhead for next period is $101,075. The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and Order Size--with estimated overhead costs and expected activity as follows:
Expected Activity
Activity Cost Pools Estimated Overhead Costs $ Product A Product B Total
Activity 1 $31,031 1,000 300 1,300
Activity 2 22,249 1,600 300 1,900
Order size 15,476 200 200 400
Total $ 68,756 (Note: The Order Size activity cost pool's costs are allocated on the basis of direct labor-hours.) The predetermined overhead rate under the traditional costing system is closest to:________
a. $11.71 per DLH
b. $38.69 per DLH
c. $171.89 per DLH
d. $23.87 per DLH
Answer:
$60.53 per DLH
Explanation:
Calculation for what the predetermined overhead rate under the traditional costing system is closest to:
First step is to calculate the Direct Labor hours each product
Using this formula
Direct Labor hours=Annual production and sales*Direct Labor hour per unit
Direct Labor hours for Product A=1,900 units*0.4 direct labor-hours per unit
Direct Labor hours for Product A=760
Direct Labor hours for Product B=1,300 units*0.7 direct labor-hours per unit
Direct Labor hours for Product A=910
Second step is to calculate the Total Direct Labor hours for Product for Product A and Product B
Product A and B Total Direct Labor hours for Product =760+910
Product A and B Total Direct Labor hours for Product=1,670
Now let calculate the predetermined overhead rate under the traditional costing system using this formula
Predetermined overhead rate =Estimated Overhead/Activity base(Direct Labor Hours)
Let plug in the formula
Predetermined overhead rate=$101,075/1,670
Predetermined overhead rate=$60.53 per DLH
The predetermined overhead rate under the traditional costing system is closest to:$60.53 per DLH
Data for January for Bondi Corporation and its two major business segments, North and South, appear below:
Sales revenues, North $ 548,000
Variable expenses, North $ 318,000
Traceable fixed expenses, Nort $ 65,600
Sales revenues, South $ 423,500
Variable expenses, South $ 241,600
Traceable fixed expenses, South $ 54,800
In addition, common fixed expenses totaled $148,600 and were allocated as follows: $77,200 to the North business segment and $71,400 to the South business segment.
A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
a. $87,200
b. $318,000
c. $164,400
d. $152,800
Answer:
Segment margin North= $164,400
Explanation:
Giving the following information:
Sales revenues= $548,000
Variable expenses= $318,000
Traceable fixed expenses= $65,600
To calculate the segment margin for the North division, we need to use the following formula:
Segment margin North= segment contribution margin - traceable fixed expense
Segment margin North= (548,000 - 318,000) - 65,600
Segment margin North= $164,400
Which of the following statements about adjustments is correct? Multiple Choice Accrued wages are wages owed, but not yet paid, to employees; the accrued wages will need to be recorded with an adjusting entry that increases expenses. When making an adjustment to recognize supplies used in a period, total assets will not change. Deferral adjustments are used to update amounts that have been previously deferred on the income statement. Depreciation is an example of an accrual adjustment.
Answer:
The Statement that is correct about adjustments is:
Accrued wages are wages owed, but not yet paid, to employees; the accrued wages will need to be recorded with an adjusting entry that increases expenses.
Explanation:
Unpaid wages are adjusted with a debit to the Wages Expense account, which increases the account, and a credit to the Wages Payable account, which also increases the account by the same amount. The purpose of this accrual adjustment is to ensure that the amount reported as Wages Expense is the actual expense incurred for Wages, whether actually paid or not, and thus report the accurate net income and liabilities for the period.
Select the correct answer.
Video game deslgners can do visual deslgn or progranming
A True
B.False
Answer:
A.
Explanation:
Answer:
A
Explanation:
The answer is A , its true
Tamarisk Corporation acquired a 39% interest in Sheffield Company on January 1, 2021, for $490,000. At that time, Sheffield had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2021, Sheffield paid cash dividends of $162,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share. Sheffield's net income for 2021 was $356,000. What is the balance in Tamarisk's equity investment account at the end of 2021
Answer:
$565,660
Explanation:
Calculation for the balance in Tamarisk's equity investment account at the end of 2021
Cost$490,000
Share of net income $138,840
(.39 × $356,000)
Less Share of dividends ($63,180)
(.39 × $162,000)
Balance in equity investment account$565,660
Therefore the balance in Tamarisk's equity investment account at the end of 2021 will be $565,660
Which of the following statements is NOT correct on service A. Services are time sensitive and cannot be stored or inventoried for future use. B. Services are acts or deeds that can be touched. C. A service system includes the service delivery process and all of the different elements of the organization required to support it. D. More people now work in the service section than in the agriculture section worldwide.
Answer:
B. Services are acts or deeds that can be touched.
Explanation:
A service can be defined as a collection of intangible goods that are being offered by a service provider to the end user in order to meet their needs or requirements.
Some of the characteristics and features of a service includes;
1. Services are time sensitive and cannot be stored or inventoried for future use.
2. A service system includes the service delivery process and all of the different elements of the organization required to support it.
3. More people now work in the service section than in the agriculture section worldwide
Hence, the statement which is not correct about service is that, services are acts or deeds that can be touched.