The statement on the toothpaste box that brushing twice a day with this paste will remove 90 percent of all tartar from the user's teeth is an example of a(n):
A. implied warranty
B. functional label
C. UPC disclaimer
D. express warranty
E. universal warranty
Answer: D
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On December 31, 2021, Andy Inc. has a debit balance of $1,500 for the Allowance for Uncollectible Accounts before any year-end adjustment. Andy Inc. also has the following information for its accounts receivable and the estimated percentages of bad debts for different past-due amounts:Age Group(days past due) AccountsReceivable Estimated Percent Uncollectible 0-30 $50,000 5% 31-60 $20,000 10% 61-90 $10,000 20% What is the amount of bad debt expense to be reported on Andy Inc.'s financial statements for 2021 using the aging method?
A. $1,500. B. $6,500. C. $8,000. D. $5,000.
An auditor is reviewing sales cutoff as of March 31, 2019. All sales are shipped FOB destination and the company records sales three days after shipment. The auditor notes the following transactions:DateShipped MonthRecorded Selling Price(000's) Cost(000's)March 28 March $192 $200 March 29 March 44 40 March 30 April 77 81 April 2 March 208 220 April 5 April 92 84 If the entity records the required adjustments, the net effect on income (in thousands of dollars) for the period ended March 31, 2019 is
A. a decrease of 12. B. a decrease of 8. C. an increase of 12. D. an increase of 8.
Happy Kids clothing store started a program where customers could bring in gently used clothing for donation to a local shelter for women and children. This is an example of which principle of conscious marketing?
A. The presence of conscious leadership B. Incentivizing employees to provide good service C. Distinguishing right from wrong D. Consideration of stakeholders' independence E. Recognition of the retailing firm's greater purpose
True service desk experts take the time and energy to continually update and improve their knowledge and skills.
Answer the following statement true (T) or false (F)