Benitez Co. had sales of $800,000 in Year 1. The company expects to incur warranty expenses amounting to 3% of sales. There were $13,000 of warranty obligations paid in cash during Year 1. Based on this information:
A. The warranties payable account would increase by $11,000 in Year 1.
B. Cash would decrease by $13,000 as a result of the accounting events associated with warranties in Year 1.
C. Warranty expenses would decrease net earnings by $24,000 in Year 1.
D. All of these answer choices are correct.
Answer: D
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The three criteria that determine whether a brand association can truly function as a point-of-difference are ________
A) comparability, authenticity, deliverability B) desirability, peculiarity, deliverability C) deviance, peculiarity, deformity D) desirability, deliverability, differentiability E) differentiability, authenticity, desirability
At the end of the current year, James Co. reported total liabilities of $300,000 and total equity of $100,000. The company's debt ratio was:
A. 67%. B. $400,000. C. 33%. D. 75%. E. 300%.
Which of the following statements about simulation is BEST?
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An important consequence of document management is:
A) restructuring of document publishing and distribution. B) increased document obsolescence. C) increased business for document transportation services. D) All of the above