英文回答：
Product Categorization in Accounting.
Product categorization is a crucial aspect of accounting as it helps businesses organize and track their products for efficient financial reporting and analysis. There are several methods of product categorization, each with its unique advantages and disadvantages.
1. By Tangibility:
Tangible products: Physical products with a concrete form and substance. Examples include inventory, machinery, and buildings.
Intangible products: Products without a physical form, such as intellectual property, trademarks, and patents.
2. By Usage:
Goods: Products that are purchased and consumed. Examples include raw materials, finished goods, and office supplies.
Services: Activities performed for a customer, such as consulting, repairs, and entertainment.
3. By Industry:
Manufacturing: Products produced through industrial processes, such as automobiles, electronics, and clothing.
Retail: Products sold directly to consumers through retail stores or online platforms.
Wholesale: Products sold in bulk to businesses rather than consumers.
4. By Purpose:
Income-generating products: Products sold or rented to generate revenue. Examples include computers, software, and smartphones.
Support products: Products used to facilitate the production or sale of income-generating products. Examples include equipment, supplies, and utilities.
5. By Lifecycle:
New products: Products recently introduced to the market.
Growing products: Products experiencing a rise in sales and profits.
Mature products: Products with stable sales and profits.
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