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liubo4ka [24]
3 years ago
6

True or False. Expense for a quality-assurance warranty is recorded along with the related liability in the reporting period in

which the product under warranty is sold.
Business
1 answer:
Novosadov [1.4K]3 years ago
5 0

Answer:

True

Explanation:

Whenever a company sells products that may generate warranty expenses, it must estimate the warranty expenses associated with the products sold.

It must credit a warrant liability account, and as the warrant claims are made, the company must debit a warranty expense account.

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In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.
tester [92]

Answer: Opportunity

Explanation:

SWOT analysis measures the strength, weakness, opportunities and threats of an individual/organization in the areas they operate in. Manufacturers of electric cars would see increase in gasoline prices as an opportunity, as people would want to buy more electric cars.

4 0
3 years ago
Which of the following is NOT one of the steps taken in the financial planning process? a. Develop a set of forecasted financial
svet-max [94.6K]

Answer:

B)Consult with key competitors about the optimal set of prices to charge, i.e., the prices that will maximize profits for our firm and its competitors.

Explanation:

The financial planning process can be regarded as series of steps which states best way of using money and investments as well as other assets so that financial goals can be potentially achieved. Most of the financial plans has its focus savings of goals as well as payoff goals even estate planning goals so that roadmap to financial freedom can be set.

The steps that can be taken in the financial planning process are;

✓ Forecast the funds that will be generated internally. If internal funds are insufficient to cover the required new investment, then identify sources from which the required external capital can be raised.

✓Develop a set of forecasted financial statements under alternative versions of the operating plan in order to analyze the effects of different operating procedures on projected profits and financial ratios

✓Determine the amount of capital that will be needed to support the plan. e. Monitor operations

5 0
2 years ago
One of the elements of the Fraud Triangle focuses on how easy or hard it is for the internal control system to prevent any fraud
olga55 [171]

Answer: Opportunity

Explanation:

1. Opportunity - Given the fact that employees are granted access to very important documents, this might provide them the opportunity to commit theft. Employees who occupy top positions have access to classified information of the company which when manipulated can result to disastrous consequences. It now be holds on the employers of labour or the internal control system, to limit access to such information so as to make it hard for such fraud to be committed.

The procedures used by auditors to provide evidence are in two phases namely; the planning phase and execution phase.

1. The procedure for the planning phase is - Designing Appropriate Procedures : The evidence in this case could be a red flag noticed in the account records. The person who tried to commit the fraud could change figures in places that may not be noticeable.

2. The procedure for the execution phase involves - Implementing Appropriate Procedures : The evidence could be seen as an error. This error most likely results in wasteful spending.

8 0
2 years ago
International trade has always played a role in the U.S. economy. Is this role increasing or decreasing (in terms of exports and
Arturiano [62]

Answer: Option (F)

Explanation:

International trade tends to allow nations to expand their respective markets for commodities, goods and services which otherwise wouldn't have been available. As the outcome of the international trade, market tends to contain the greater competition, thus indirectly tends to have competitive prices, that further brings cheaper commodities home to consumer.

The vital point under this scenario is that within the past decade due to technological transformation the cost of communication has decreased drastically and thus has always impacted International trade.

8 0
3 years ago
In January, 20XX a customer buys 100 shares of ABC stock at $50 per share and pays a $2 commission per share. The customer recei
ANTONII [103]

Answer:

$ 52

Explanation:

Given data:

Price of the stock = $ 50

Commission per share = $ 2

Dividends received  = $ 2

Now,

the dividends received is not the part of the stock's cost basis, but it is included in the taxable income for the year.

Therefore,

The customer's cost basis in the stock

= Price  of the stock + commission per share

or

= $ 50 + $ 2

or

customer's cost basis in the stock = $ 52

5 0
3 years ago
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