Marta Finds a Chest Inscribed "Jack Sparrow" That Contains $750,000

question 107

Multiple Choice

Marta finds a chest inscribed "Jack Sparrow" that contains $750,000 of cash while diving among the coral reefs off Key West, Florida. The US Customs and the DEA denied knowledge of the cash, so Marta keeps it.
I.Recognition will not occur because the windfall would not be considered as "derived from capital or from labor."
II.The All-inclusive Income Concept explains the recognition of the cash as income.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Service Quality

The assessment of how well a service meets or exceeds customer expectations, often related to factors like responsiveness, assurance, and empathy.

Tangibility

The physical existence of a product, making it possible to touch, see, and directly experience it.

Service Quality

Evaluating how closely a provided service aligns with what the customer anticipated.

Responsiveness

The quality of reacting quickly and positively, often used in the context of organizations dealing with customer needs or market changes.