Flipsy is an online auction marketplace where users swap virtual currency for free stuff
Indicate whether the statement is true or false
FALSE
You might also like to view...
Exhibit 9-5 Backhoe Company estimates its annual warranty costs to be 4% of annual net sales. Backhoe uses the GAAP approach of accruing warranty expense (and the related liability) in the year of the sale. The following information relates to the calendar year 2015: Net sales $3,000,000 Estimated liability under warranties: January 1, 2015 100,000 ? December 31, 2015, after year-end adjustment
80,000 ? ? ? Refer to Exhibit 9-5. The amount of warranty expense for 2015 is A) $80,000. B) $120,000. C) $140,000. D) $240,000.
On January 1, 2016, Mark Company leased equipment by signing a five-year lease that required five payments of $85,000 due on December 31 of each year. The equipment remains the property of the lessor at the end of the lease, and Mark does not guarantee any residual value. Using a rate of 11%, Mark capitalized the lease on January 1, 2016, in the amount of $314,152. What is the amount of the lease
obligation on December 31, 2017? A) $263,709 B) $207,717 C) $279,595 D) $225,350
The Eighth Amendment prohibits capital punishment
Indicate whether the statement is true or false
Appropriate flexibility is an effective approach for a global supply chain to deal with a variety of risks and uncertainties. Extra flexibility is always worth the cost
Indicate whether the statement is true or false.