Answer:
C. Ron’s basis in his stock is $27,000
Explanation:
Income recognized on services rendered $21,000
Add basis of $6,000
Ron stock basis $27,000
The property contributed by Ron is not considered insignificant compared to the value of the services he has rendered, which is why the entire contribution is counted as being for property.
Hence, the control requirement is satisfied and a valid § 351 transaction results. Ron’s stock basis is $27,000 [$6,000 (basis of cattle transferred) + $21,000 (income recognized on services rendered)]
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.
Answer:
"A"
Explanation:
Market enhancement is the process of improving the production line of an existing product in order to increase the value, efficiency and effectiveness giving the product a market leading status and an edge over the rivals and new entrants.
It involves research , review and upgrade of production system
This is used to ensure that an existing product has the features to withstand the competition that a new product might bring
Answer:
The average product of labor per day is 324
Explanation:
To find the average product of labor per day we need to know the total number of widgets produced divided by the worked days.
Average Product= total number of widgets /days
Monday, 10=250 widgets
Tuesday, 11=286 widgets
Wednesday, 13 =364 widgets
Thursday, 14 workers= 396 widgets
Friday, 12 workers=324 widgets
TOTAL WIDGETS= 250+286+364+396+324=1620
Days= 5 days
Average Product= 1620/5=324