Flint Company produces widgets that cost $30 each and have a 5 percent failure rate. If 500 widgets are sold, the entry to record the estimated product warranty expense would be
A) Product Warranty Expense 150 Estimated Product Warranty Liability 150
B) Product Warranty Expense 750 Estimated Product Warranty Liability 750
C) Product Warranty Expense 75 Cash 75
D) Estimated Product Warranty Liability 150 Cash 150
B
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Answer the following statements true (T) or false (F)
Our psychological worlds have an impact on the physical world.
Social media are promotion tools used to facilitate conversations and other interactions among people online
Indicate whether the statement is true or false a. True b. False
At Sunrise, Inc., Susan is responsible for accounts receivable and Mark is responsible for accounts payable. This is an example of:
a. an accounting assembly line b. mass production c. standardization of parts d. manufacturing e. the division of labor
Name the four different types of seating arrangements discussed in the text and indicate when each is most appropriate.
What will be an ideal response?