Warranty expenses are the result of the selling company's estimate of the number of units sold during the current year that may become defective and need repair or replacement during the warranty period
a. True
b. False
Indicate whether the statement is true or false
True
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Assume that on December 1, a note which has a face value of $1,000, bears interest at 6 percent for 90 days, received from a customer as an extension of his of past – due account is honored on due date. The entry that would be made to record the receipt on due date (ignoring interest) is:
a. Notes receivable 1,000 Cash 1,000 b. Accounts receivable 1,000 Cash 1,000 c. Accounts receivable 1,000 Notes receivable 1,000 d. Cash 1,000 Notes receivable 1,000
Roles being tested in leadership-making means ______.
A. the leader and follower have already tested their interactions and found them satisfactory B. the leader and follower are assessing desire for the follower to take on new responsibilities C. the leader and follower are focused on the rules of interaction D. the leader and follower are comfortable depending on each other
When faced with a competitor who has cut its product's price, which of the following is the most cost-effective way for a company to maintain its own price but raise the perceived value of its offer?
A) by improving the quality of the product B) by introducing a higher-priced premium brand C) by altering the company's marketing communications D) by bundling the offer with add-ons E) by distributing the product through less costly channels
The balance in Wellstocked Company's accounts payable account on December 31 . 2014, was $1,225,000 before the following information was considered: • Goods shipped FOB destination on December 21, 2014, from a vendor to Wellstocked were lost in transit. The invoice cost of $45,000 was not recorded by Wellstocked. On December 28, 2014, Wellstocked notified the vendor of the lost shipment. •
Goods were in transit from a vendor to Wellstocked on December 31 . 2014 . The invoice cost was $60,000, and the goods were shipped FOB shipping point on December 28, 2014 . Wellstocked received the goods on January 6, 2015. What amount should Wellstocked report as accounts payable in its December 31 . 2014, balance sheet? a. $1,330,000 b. $1,285,000 c. $1,270,000 d. $1,225,000