<span>Fair market value should include as gross income in Lyles return for the receipt of these samples. It is the estimate of the market value of a property when the buyer and seller are knowledgeable and unpressured. Precedent or extrapolation helps in finding the Fair market value estimate.</span>
<span>Consumer Financial Protection Bureau (CFPB)</span>
Answer:
C. repetitive production
Explanation:
Based on the information provided within the question it can be said that only in Repetitive Production
will you see at most minor variations implemented. This is because this type of operations uses various machines in a pre-set process to make the product, a small change in the product specifications would require ALL of the equipment to be replaced, rearranged, or modified just to be able to implement the changes to the product. This many times costs more money than what the change will generate.
Answer: The correct answer is "d. A good example of a sunk cost is money that a banking corporation spent last year to investigate the site for a new office, then expensed that cost for tax purposes, and now is deciding whether to go forward with the project."
Explanation: Sunk costs are those costs that have already been incurred and cannot be recovered in the future. Including the time, money or other resources that were spent on a project, investment or other activity and that will not be recovered.
Answer:
Explanation:
Quality control can be defined as a process by which a manufacturer or producer maintains the standard or quality of it's product.
This is to ensure that quality of the product is maintained over time and also gives room for improvement.
The need for controlling quality of goods and services:
1. It is to ensure the quality of the product does not depreciate over time.
2. To ensure little or not error is made during production process.
3. Quality control is done to ensure a great customer satisfaction.
4. It also helps to increase consumers confidence in a product.
5. Quality control gives room for improvement on the quality of a product.
