McDermott Company has developed a new industrial component called IC-75. The company is excited about IC-75 because it offers superior performance relative to the comparable component sold by McDermott's primary competitor. The competing part sells for $1,360 and needs to be replaced after 2,160 hours of use. It also requires $280 of preventive maintenance during its useful life. The IC-75's performance capabilities are similar to its competing product with two important exceptions-it needs to be replaced after 4,320 hours of use and it requires $380 of preventive maintenance during its useful life. Required: From a value-based pricing standpoint: 1. What is the reference value that McDermott should consider when pricing IC-75? 2. What is the differentiation value offered by IC-75 relative the competitor's offering for each 4,320 hours of usage? 3. What is IC-75's economic value to the customer over its 4,320-hour life? 4. What range of possible prices should McDermott consider when setting a price for IC-75? 1. Reference value 2. Differentiation value 3. Economic value to the customer 4. Range of possible prices

Money taken out of a sole proprietorship by an owner is: Choose the correct answer 1. subject to income tax, Employment Insurance and Canada Pension Plan 2. deductions when taken out. 3. considered an expense 4. taken as a draw against anticipated profits 5. all of the above

What is the importance of the settlor? Provide an explanation

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There are several factors that should be taken into account when storing information. List and explain two (2) of these factors if you were wanting to store information that you would need to access in 20 years time.

Expenses on a statement of income are listed in no particular order under ASPE. from smallest to largest under IFRS. in alphabetical order under IFRS. by their nature or function under ASPE.

Identify three items often found in Required Supplementary Information. (Accounting for Governmental and Not-for-Profit Organizations)

OA OB ts is CORRECT about a Business Income Coverage Form? It must be written on a Special Form It provides coverage for losses that occur up to 30 days after the policy expires. It provides coverage for income interruption at any location owned by the insured. It provides coverage for income interruption from physical damage only at the location describe

When auditors physically observe various items recorded in property, plant, and equipment, they are gathering evidence related to the audit objective of completeness. Orights and obligations. O existence. O presentation.

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