The situation where one person's demand for a good depends on the consumption of the good by others is called a

Identify a true statement about International Organization for Standardization (ISO) 9000:2000.

NNADVOKAT [17]

Answer: The correct answer is "D. Its standards apply to all types of businesses, including electronics and chemicals.".

Explanation: The ISO 9000 standards are a set of Quality Control and quality management, established by the International Organization for Standardization (ISO). They can be applied in any type of organization or activity oriented to the production of goods or services. The standards include both the minimum content and the specific implementation guides and tools as well as the audit methods.

7 0

4 years ago

Mr. and Mrs. Jones sold their principal residence for $750,000. They had lived in their residence for 20 years, and it had an ad

IceJOKER [234]

Answer:

D) $40,000

Explanation:

The Joneses qualify for a Section 121 exemption since they lived at their house for 20 years. They are exempted from paying capital gains taxes on the first $500,000 ($250,000 if single) in realized gains from selling their home.

Joneses taxable gain = $750,000 (sales price) - $210,000 (basis) - $500,000 (section 121) = $40,000

They will have to recognize only $40,000 in gains.

7 0

3 years ago

Use straight line (SL) depreciation to determine a. annual depreciation charge (5 points) and b. annual book values for the life

Andrew [12]

Explanation:

The computation is shown below:

Year Depreciation Book value

0 $1,200,000

1 $125,000 $1,075,000

2 $125,000 $950,000

3 $125,000 $825,000

4 $125,000 $700,000

5 $125,000 $575,000

6 $125,000 $450,000

7 $125,000 $325,000

8 $125,000 $200,000

The depreciation expense is

= ($1,200,000 - $200,000) ÷ (8 years)

= $125,000

4 0

3 years ago

Blossom Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at co

horsena [70]

Answer:

$1,012,696

Explanation:

The computation is shown below:

At Cost method:

Merchandise available for sale is :

= Beginning inventory + Purchases + Fright-in

= $403,500 + $3,608,000 + $169,500

= $4,181,000

At Retail method:

Merchandise available for sale:

= Beginning inventory + Purchases + Markups

= $604,000 + $5,393,600 + $424,000

= $6,421,600

Now

Ending inventory at retail is

= Retail - Markdowns - Net sales

= $6,421,600 - $0 - $4,866,000

= $1,555,600

Now

Cost to retail ratio is

= $4,181,000÷ ($4,866,000 + $1,555,600)

= 65.10%

And finally the ending inventory at cost is

= $1,555,600 × 65.10%

= $1,012,696

8 0

3 years ago

48. What is the economic process or activity of producing goods and

fgiga [73]

Answer:

O C. Production

Explanation:

Production is the organized activity of combining different materials (inputs) to make consumable goods and services. It is the process of converting resources to finished products and services for sale. Production occurs to meet the demand for the goods and services in the market.

Entrepreneurship involves the generation of an idea and transforming it into a profitable business. Factors of production are the inputs necessary for making goods and services. These factors of production (inputs) are the ingredients in the production process.

7 0

3 years ago