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Questions and Answers
Manufacturers sell only to final consumers.
Manufacturers sell only to final consumers.
False (B)
Service companies provide intangible products.
Service companies provide intangible products.
True (A)
The classification of companies can be based on their size.
The classification of companies can be based on their size.
True (A)
Manufacturers do not handle raw materials.
Manufacturers do not handle raw materials.
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Legal status is not a criterion for classifying companies.
Legal status is not a criterion for classifying companies.
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Study Notes
Manufacturing Companies
- Purchase materials from suppliers
- Transform materials into finished products
- Sell products to other businesses or directly to consumers
Service Companies
- Offer intangible products or services
- Examples include telecommunications, internet, education, healthcare, and professional consulting
Company Classification Criteria
- Activity area: distinguishes companies based on their industry or sector, such as manufacturing, services, or technology
- Size: categorizes companies according to their revenue, employee count, or assets, like Small and Medium Enterprises (SMEs) and large corporations
- Legal status: defines the company's structure and ownership, such as sole proprietorships, partnerships, limited liability companies (LLCs), and corporations
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