The product that would be considered part of the business-to-business market is the <u>b) Lumber needed to make furniture</u>.
<h3>What is a business-to-business market?</h3>
A business-to-business market describes a process whereby goods or services are exchanged for the production of other goods or services.
In this market, the buying organization is not the final consumer but a producer of goods from the purchased inputs.
<h3>Question Completion with Answer Options:</h3>
a) Classes at a university for a college freshman
b) Lumber needed to make furniture
c) A haircut from a salon
d) Appliances needed for your home
Thus, the product that would be considered part of the business-to-business market is the <u>b) Lumber needed to make furniture</u>.
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Answer:
$557,000
Explanation:
Operating activities: It includes those transactions which affect the working capital. It means that the increase in current assets and a decrease in current liabilities would be deducted and a Decrease in current assets and an increase in current liabilities would be added.
The computation is shown below:
= Income reported on the income statement + decrease in account receivable
= $539,000 + $18,000
= $557,000
The decrease in account receivable
= $142,000 in beginning of the year - $124,000 in end of the year
= $18,000
<u>Answer: </u>Production concept
<u>Explanation:</u>
Production concept is based on concentrating on the efficiency of the production and manufacturing. The basis of production concept is to make the goods available to the consumer at affordable prices. By producing in mass quantities the companies believed they can reduce the cost of production.
Also that supply can be increased when the cost of production is lower. Economies of scale can be achieved by the company when they reduce cost of production they can increase their profit earning capacity.
Answer: $324,800
Explanation:
It is a general Principle that when calculating income tax expense, that the Extraordinary loss is treated separately because it is not a usual thing.
The income gained from changing the Accounting principle is not included as well.
The Taxable income to be recorded therefore is,
Taxable income = Income + Gain on disposal - Unusual loss (due to its infrequency)
Taxable income = 928,000 + 32,000 - 148,000
Taxable income = $812,000
Tax expense would therefore be,
= 812,000 * 40%
= $324,800
$324,800 is the amount of income tax expense Arreaga would report on its income statement.
