I believe the answer is c, <span>the goal is to produce customized products, whenever and wherever needed.
Customized products refers to the type of product that is personalized according to the costumer's taste. Example of mass customized products is online pizza ordering platform that allow costumers to choose their own combination of toppings.</span>
Answer:
A mission statement
Explanation:
A mission statement is a brief summary of the values, aims and objectives of an organization or a company. it defines what the company does to the owner, the employees and the customers.
an example of a mission statement of a furniture company:
"We make this affordable & possible by offering a selected range of well-designed, functional home-furnishing products at low prices so that as many people as possible will be able to afford them"
Answer:
$106,800
Explanation:
<em>The cost of land includes purchase plus all other costs necessary to bring and make it ready for the intended use. </em>
These costs include purchase cost, fees and commission associated with the purchase transaction.
Further more, included in the historical cost are the net demolition cost of old structure to prepare the land for use. Net cost here means cost of demolition less any incidental proceed from the old structure.
However, remember that land is not depreciated because it has an infinite life span.
So using the historical cost principle the cost of the land
= $96800 + $3700 + $7500 - 1,200
= $106,800
Answer:
B. only the traditional format of the income statement.
Explanation:
There is only one format under US GAAP, that is the traditional format, the variable costing format or the contribution margin format are all concepts of cost accounting, and not of accounting.
As per US GAAP the books are prepared in traditional format income statement. No other format is followed for reporting and presenting the financial statements of the company.
Therefore, correct option is:
Option B