Aservice is any intangible offering that involves a deed, performance, or effort that

Any deed, performance, or effort that cannot be physically possessed is referred to as an intangible offering called service.

Explanation:

Unlike a physical commodity, which is tangible in nature, a service that does not have any physical form, cannot be possessed as an asset.This is because, the service is rendered by an institution or an individual to another institution or individual through providing perks that are not measurable in mass or matter.