Answer:
The statement is not an express warranty, because it doesn't involve a negotiation of terms between Salazar and Mitsubishi. It is an employee of the company that imploy Salazar to bring the car should the car gives problem, and didn't involve an agreement between the two parties ( Salazar and Mitsubishi)
Explanation:
What is express warranty?
An express warranty arises from the parties’ negotiations in a sales transaction. Express warranties are often included in the written terms of a contract. An “express” warranty by a seller is created by:
Any statement of fact or promise relating to the goods sold which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the statement or promise.
Any description of the goods sold which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the description.
Any sample or model, which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the sample or model.
An express warranty may be created even if the seller does not use formal words such as “warranty” or “guarantee,” and even if the seller does not have a specific intention to make a warranty. However, an express warranty is not created merely because the seller makes a statement as to the value of the goods, or as to seller’s opinion of the goods. Generally, statements made by a seller during the course of contract negotiations are treated as statements of fact, unless it can be shown that the buyer could only have reasonably considered the statement to be an opinion.
Answer:
The answer is: $113,000
Explanation:
By 2020, Phillips Company had already amortized $22,000 of the patent expenses (2 years x [10% x ($100,000 + $10,000)]). Since it lost its patent defense in 2020, it will now have to write off $113,000 ($88,000 pending amortization + $25,000 in legal fees) for the adjustment of its 2018 income.
The incorrect statement is : The income from the TSA is received income tax-free. Upon retirement, payments received by employees from the accumulated savings in tax-sheltered annuities are treated as ordinary income.
Answer:
$10,730
Explanation:
1. Patent: $92,000/15 years = $6,133
$6,133 × 3/12 = $1,533
2.Goodwill: $552,000/15 years= $36,800
$36,800 × 3/12 = $9,200
Total: $1,533 + $9,200= $10,733
Approximately $10,730
Answer:
Workplace discrimination prevents the firm from using the full potential of those employees that are being discriminated against.
Explanation:
For example, if the firm discriminates against a specific group of people when hiring (for example, it can discriminate against older people), the firm could lose valuable potential employees that could have provided great skill and experience for the firm.
If the firm practices discrimination against employees, the operation in the company will not be as streamlined as it could be against discrimination because those who are being treated poorly will be less motivated and have lesser output.
