Answer:
Answer 1. Warranty expense to be recognized is ($11,000*0.04)=$440
Answer 2. Warranty liability at end of year one is $440
Answer 3. Warranty liability at the end of year two is ($440-$130)=$310
Answer 4.
Cash $11,000
To sales $11,000
(sale of copier recorded)
Warranty expense $440
To Warranty liability $440
(Warranty recorded at the end of year 1)
Warranty liability $130
To inventory $130
(Repairs done to copier)
Answer:
The answer is d. tells about economic resources, claims to resources, and changes in resources and claims is useful to investors and creditors in making decisions.
Explanation:
Financial reporting at its core, is a "language". It ensures that the investors and all stakeholders are provided with relevant and accurate information regarding a business or an institution. So that they can take effective and efficient economic decisions that will eventually benefit the entire economy.
The business cycle graph demonstrates the short-term variations in the economy.
When real output declines for at least two quarters in a row, the economy is in a recession (real GDP). Depression is a long-lasting, severe recession.
Every country's economy has expansionary and contractionary eras. The levels of employment, productivity, as well as the overall demand and supply of the country's goods and services, all contribute to these shifts. The variations of the economy between times of expansion (growth) and contraction are referred to as the "economic cycle" (recession). The present stage of the economic cycle can be determined using variables like gross domestic product (GDP), interest rates, total employment, and consumer expenditure.
Learn more about business cycle hear:
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The correct answer for the question that is being presented above is this one: "Monopolistic competition." A market structure with a large number of sellers who make differentiated products is called monopolistic competition. Monopolistic Competition refers to a type of imperfect competition<span> such that many producers sell products that are differentiated from one another.</span>
Answer:
Correct option is (d)
Explanation:
Corporate social responsibility is an initiative taken by companies to act for the benefit of the society. Since companies utilize resources from the society, it their responsibility to give back to the society in the form of charity to non governmental organizations, welfare of underprivileged and protecting the environment.
Here, though Enron was undertaking unethical means for personal benefits, it was also carrying out corporate social responsibility by donating to Houston area charities.
