In 2015, Boone, Inc sold 1,000 carpets for $50 each. The carpets carry a 2-year warranty for repairs. Boone estimates that repair costs will average 2% 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 2015?
a. $1,000
b. $ 500
c. $ 20
d. No liability should be recorded until the carpets are returned for repairs.
a
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An auction house puts a painting up for sale, which they think to be Pablo Picasso's "Acrobat and Young Harlequin." A Japanese businessman purchases the painting for $50 million. The businessman appraises the painting for insurance purposes and discovers that it is a clever fake that is worth only a few thousand dollars. Which of the following statements is true of the scenario?
A. The buyer cannot rescind because the auction house did not intentionally mislead him about the authenticity of the painting. B. The buyer cannot rescind because he was negligent; he should have investigated the authenticity of the work before bidding on it. C. The buyer can rescind on the basis of mutual mistake. D. The buyer can rescind on the basis of unilateral mistake.
In the path-goal leadership approach, leaders use a style that is appropriate to clarify the actions that need to be taken by the followers so that they can realize their rewards, while avoiding problems. These actions by the followers are known as the ______.
a. path b. goals c. Demarcation of Control d. line of fluidity
The marginal revenue of labour is the additional output associated with the employment of one additional human resources unit.
Answer the following statement true (T) or false (F)
Identify and explain the meaning and strategic significance of each of the following terms.a) Related diversificationb) Strategic fitc) Economies of scoped) Retrenchinge) Unrelated diversification
What will be an ideal response?