Answer:
The correct answer is letter "A": all income from whatever source derived unless excluded by law.
Explanation:
Gross income is the total income of a person before taxes and other changes. Gross income is the basis for determining the taxes an individual has to pay. Gross income is the sum of a person's salary, wages, tips, capital gains, dividends, interest, rents, pensions, and alimony.
<em>The tax definition of Gross Income states it represents all income of individuals regardless of the source derived except those excluded by law.</em>
Answer:
B. Firm A engaged in predatory pricing.
Explanation:
Since Firm A and B are the only two companies that sell this good
Firm A decided to price its subscriptions below average variable cost that is it lowered it's prices which made Firm B to also lower it's own, but they went bankrupt and exited the market. Firm A then raised prices by 40% and is currently earning large, positive economic profits.
Based on this, Firm A engaged in predatory pricing.
Predatory pricing is a marketing or pricing strategy that has to do with lowering the cost of goods and services for a short-term, in order to make competitors lower their price, making them to go bankrupt in the process and thereby exiting the market.
The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true.
<h3>What is an Inventory Account?</h3>
Inventory accounting is part of accounting that involves modifications in values and accounts or price of inventoried assests.
A company's inventory nvolves goods are grouped into three stages of production which are raw goods, in-progress goods, and finished goods that are ready for sale.
Therefore, The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true because gross profit will be lower, income tax will be lower and the cost of goods will increase.
Learn more on inventory account from the link below.
brainly.com/question/8192827
Answer:
a. better satisfies customer needs than rival products do.
Explanation:
Product differentiation is the process by which a product is made to be different from what other competitors are offering. This is done to better satisfy a target market. Product differentiation can also occur within a firm to differentiate it from other firm offerings.
For example if a company decides to put a torch light on a pen. This will diffentiate the product from other pens in the market and will give customer more satisfaction by providing the extra service of lighting.
Answer:
The statement is: False.
Explanation:
The Annual Report is a yearly publication that public corporations must provide to shareholders to describe their operations and financial condition. The Securities and Exchange Commission (<em>SEC</em>) requires public corporations to file annual reports. They reveal if the company's earnings and sales are higher or lower than expectations.
The annual report is composed of four (4) financial statements: <em>the income statement, the balance sheet, the cash flow statement, </em>and <em>the statement of stockholders' equity</em>.
