Answer
The answer and procedures of the exercise are attached in the following image.
Explanation
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Answer: Income statement $100,000
Balance sheet warranty liability $Nill
Explanation:
Since we are at the end of the period and all activities has been concluded with no expectation of claim of repairs. The firm will only record the cost incurred for current period on repairs which is $100,00 ( $100*1000) . The liability will be zero since the company has taken care of all repairs for the period.
Answer:
Tim's business should have 50 sales person
Explanation:
Number of customers = 1,000 customers
Call frequesncy to each = 50 times
Average Length of call = 2 hours
Average sales persons time = 2,000 hours per year
Total Time = Customers x Average time per call x Call frequesncy
Total Time = 1,000 x 2 x 50 = 100,000 hours per year
Number of Sales people required = Total time / Average time per sales person = 100,000 / 2,000 = 50 sales person
The retail executive who oversees a group of buyers and is responsible for the trading activities of the relevant sales department or division group is the General Merchandise Manager (GMM).
Retail is a commercial activity that involves selling goods or offering services directly to final consumers. Goods purchased from retail businesses will be used by consumers for personal consumption or for family and household purposes, not for resale.
Also known as retail business, retail acts as a marketing intermediary that connects major producers or large wholesalers with consumers who buy in small quantities or in units. After purchasing a number of goods from a larger group of businesses, the retailer or retailer will resell the goods by setting a certain additional price to make a profit.
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Answer:
True
Explanation:
In contract law and civil law, the duty to mitigate damages refers to the duty that the individual responsible for the wrongdoing must carry out to limit the harm or injury caused by him/her. The duty to mitigate applies both for contract breaches and victims or torts.
