Clichés are handy verbal shortcuts that should be used whenever possible to shorten business messages
Indicate whether the statement is true or false
F
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In 2016, Scranton, Inc sold 2,000 carpets for $50 each. The carpets carry a 2-year warranty for repairs. Scranton estimates that repair costs will average 3% of the total selling price. What is the amount that would be recorded in the warranty liability account as a result of selling the carpets during 2016?
a. $1,500 b. $3,000 c. $50 d. No liability should be recorded until the carpets are returned for repairs.
In interpreting a contract, terms which have been separately negotiated are given priority over standardized pre-printed terms
a. True b. False Indicate whether the statement is true or false
The net single premium for a life insurance policy is
A) the premium the insurer charges to cover the death benefit and the insurer's expenses. B) the future value of the future death benefit. C) the present value of the future death benefit. D) the face value of the policy discounted back for the number of year the policy will be in force.
Which of the following is an example of a physiological innovation?
A. Optical mark readers B. Haptic interfaces C. 3G technology D. Image scanners