Answer:
$700 (not given in the options)
Explanation:
When the policy is purchased with a payment made in advance, the entries recorded are
Debit prepaid insurance $8,400
Credit Cash account $8,400
After the first month, the expense incurred is
= 1/12 × $8,400
= $700
Entries then required
Debit Insurance expense $700
Credit Prepaid Insurance $700
Answer:
d. bring suit against Pestro under Section 402A even though there is no privity.
Explanation:
Section 402A enforces strict liability for physical harm that is caused a by the product sold to a buyer by a seller.
It states that if a seller sells a defective product that is unreasonably dangerous to an end user, the seller will be liable for any physical harm that results from its use.
Privity is when a contractual relationship exists between different parties in a transaction.
In the given scenario even without a privity the parents of the children and the dogs can bring suit against Pestro under Section 402A even though there is no privity.
They don't have to have a direct contractual relationship with Pestro.
Hello!
The answer to this would be: Commercial Liberalism.
I hope this was helpful! :)
Fixed costs do not affect the marginal cost of production since they do not typically vary with additional units. Variable costs, however, tend to increase with expanded capacity, adding to marginal cost due to the law of diminishing marginal returns.
<h3>What is
Fixed costs?</h3>
Fixed costs, also known as indirect costs or overhead costs in accounting and economics, are corporate expenses that are independent of the volume of goods or services generated by the business. They are usually recurrent, such as monthly interest or rent. These expenses are frequently capital expenses.
A fixed expense is essentially a 'necessity.' Tuition, accommodation and board, as well as your car payment (if you have one), car insurance premiums (if you have a car), wireless plan, and internet connection, will be your major fixed expenses in college.
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