I think it's beneficial because not only do you get a wide variety of ideas, you also get input from people who grew up with different backgrounds.
Answer:
That the car wash was not liable to the plaintiff because the car wash employees had no notice they were taking responsibility for so much jewelry.
Explanation:
The case of Ziva Jewelry Inc., v. Car Wash Headquarters Inc involved a salesperson Stewart who locked jewellery in his car and took it to the car wash.
He did not disclose that there was expensive jewelry in the car.
The attendant finished washing the car and signalled to Stewart that his car was ready and walked away from the car.
Before Stewart could pay the bill someone had taken the car. Although the police recovered the car the jewellery was stolen.
Zeva Jewellry filed a motion against the car wash that they did not excercise due care in returning the vehicle.
In this instance the car wash was not liable because Stewart did not disclose there was expensive jewelry in the car.
Also the attendant had finished with his car and informed him of this. So it was out of their care when the car theft occured
Answer:
C. Planning of activities and the staging of events to attract attention and to generate publicity.
Explanation:
When an individual or a company staged an event with the aim of catching the attention of the press or generate publicity, it is called press agentry.
Press agentry is mostly done by an organization to attract the public towards its product for personal gain. It focuses on the outcome of an event rather than the process that leads to the event.
Example of press agentry is when the CEO of a plastic industry suddenly announce an increment(about 500%) for its product. The increment generate uproar on social media because the company has become a household name and the product whose price was increased has also become a brand.
Due to the above scenario, the uproar would definately bring criticism to the company but such would also attract the media. The sudden increment will be termed publicity stunt to gain media attention.
Answer: See explanation
Explanation:
a. This is not a loss contingency. A loss contingency occurs when the value of an asset is reduced because of an occurence on the future. This isn't the case here as a separate sales transaction occured.
b. To account for it, we have to defer the revenue as a liability and then we will use the straight line basis to calculate the warranty expense.
2. Dr Cash $412,000
Cr Unearned revenue - extended warranties $ 412,000
(To record the sale of extended warranty)
Dr Unearned revenue - extended warranties. $57937.50
Cr. Revenue - Extended Warranties $57937.50
(To record revenue earned on extended warranty)
