The documentation states:

'In Version 3, all in-app products are managed. This means that the user's 
ownership of all in-app item purchases is maintained by Google Play, and 
your application can query the user's purchase information when needed.' 

So why do you have to chose between 'managed', 'unmanaged', or 
'subscription' when you create an inapp purchase item. Also, the example 
code for the 'trivial drive' example application has three separate 
handling tracks to chose from for each purchase, appearing to correspond to 
three types of products.

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