In 2015, Morton Co sold 100 hot air balloons at $4,000 each. The balloons carry a 5-year warranty for defects. Morton estimates that repair costs will average 4% of the total selling price. The estimated warranty liability at the beginning of the year was $42,000 . $11,000 in claims was actually incurred during the year to honor their warranty. What was the balance in the ending estimated
warranty liability at the end of the year?
a. $47,000
b. $42,000
c. $37,000
d. $ 5,000
a
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Which of the following is true of a debtor's bankruptcy estate?
A) Only intangible personal property constitutes the bankruptcy estate. B) No property solely owned by the debtor is exempted from the bankruptcy estate. C) Creditors are allowed to claim exempt property. D) Government benefits and compensations are exempted from the bankruptcy estate.
William is a candidate running for the position of mayor. Royal Blue, a corporation, provides funds to support William. William's rival files a lawsuit claiming that the corporation's spending was leaving no room for the opinion of others
Which of the following statements is true of the scenario? A) The First Amendment to the U.S. Constitution protects Royal Blue's right to corporate political speech if it can be shown that their business or corporate assets were not materially affected. B) The Fourth Amendment to the U.S. Constitution protects Royal Blue's right to corporate political speech if it can be shown that their business or corporate assets were not materially affected. C) Judgment will be against Royal Blue, since an independent entity cannot contribute toward a candidate's election campaign. D) Judgment will be against Royal Blue if they have spent more than a certain percentage of William's total campaign expenses.
List and describe the four strategies for communicating with people from different cultures
The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.
Answer the following statement true (T) or false (F)