Cost Accounting (15th Edition)

Published by Prentice Hall
ISBN 10: 0133428702
ISBN 13: 978-0-13342-870-4

Chapter 2 - An Introduction to Cost Terms and Purposes - Assignment Material - Questions - Page 54: 2-8

Answer

Manufacturing-sector companies purchase materials and components and convert them into various finished goods. Merchandising-sector companies purchase and then sell tangible products without changing their basic form. Service-sector companies provide services (intangible products)—for example, legal advice or audits—to their customers

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