Prices do not affect customers' perception of value

The distinction between manufacturing and service is much less ambiguous at the individual process level than at the organizational level

Indicate whether the statement is true or false

LaCharles made a charitable contribution of property that he valued at $80,000 . He deducted this amount as an itemized deduction on his tax return. The IRS can show that the actual value of the property is $50,000 . LaCharles is in the 33% Federal income tax bracket. Determine LaCharles's amount due for both tax and any penalty