A(n) ____ is a concept, philosophy, or image.
A. product
B. good
C. idea
D. service
E. issue
Answer: C
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In 2015, Baloga Heating Company sold 400 water heaters for $350 each. The water heaters carry a 2-year warranty for repairs. Baloga estimates that repair costs will average 2% of the total selling price. How much is recorded in the warranty liability account as a result of selling the water heaters during 2015?
a. $4,200 b. $2,800 c. $1,400 d. No liability should be recorded until the water heaters are brought back for repairs.
On December 31 . 2014, Artistown Company appropriately changed to the FIFO cost method from the weighted-average cost method for financial statement and income tax purposes. The change will result in a $700,000 increase in the beginning inventory at January 1 . 2014 . Assuming a 40 percent income tax rate and that no comparative financial statements for prior years are reported, the cumulative
effect of this accounting change reported for the year ended December 31 . 2014, is a. $700,000. b. $350,000. c. $420,000. d. $280,000.
How has the Group of Eight recently expanded the issues it discusses in its annual summits?
What will be an ideal response?
Shaking hands upon meeting someone uses which of the following cues?
A. visual, auditory, tactile, olfactory B. visual, auditory, tactile, gustatory C. visual, tactile, olfactory, gustatory D. auditory, tactile, olfactory, gustatory