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Question
The asset which can only be perceived indirectly such as an insurance policy is called ______.
Options
Tangible product
Intangible product
Service
None of these
Solution
The asset which can only be perceived indirectly such as an insurance policy is called Intangible product.
Explanation:
Intangible products are assets that cannot be touched or seen directly but have value and are essential for business operations. Examples include insurance policies, patents, trademarks, and intellectual property. They differ from tangible products, which are physical items that can be directly perceived and used.
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