Giving reasons, classify the following into intermediate products and final products. (i) Furniture purchased by a school.
Giving reasons, classify the following into intermediate products and final products.
(i) Furniture purchased by a school.
(ii) Chalks, dusters, etc., purchased by school.
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(i) furniture purchased by school - Final Product.
Reason: School buy furniture for long - term use and it is considered as an investment.
(ii) Chalks, Dusters, etc., purchased by Intermediate product.school-
Reason: These are taken up to be used up completely during the same year.
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