Based on accounting principles, Simar Sales Co. sells and installs kitchen appliances. Simar guarantees parts and labor for one year after installation. Simar would record potential claims in a(n) <u>Warranty Liability account</u>.
This is because a <u>Warranty Liability</u> <u>account</u> is a type of account that is established to record the number of the repair or replacement costs that a company expects to incur for commodities already shipped or services already conducted.
Warranty Liability account or Estimated Warranty Liability account are used mostly by firms that offer products that have warranty periods.
Hence, in this case, it is concluded that the correct answer is a Warranty Liability account.
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Laissez-faire economics helped the country industrialize. Supporters of Laissez-faire believe that government should not interfere in the economy other than <span>protect property rights and maintain peace.</span>
Answer:
Informal feedback
Explanation:
In simple words, informal feedback relates to the feedback under which the feedback is not planned by either of the parties involved and the conversation regarding the review just happens occasionally unplanned. I
Generally, In such feedback there is no exchange of information but one party dictates their view to the other. Hence, from the above we can conclude that the given case is an instance of informal feedback.
Answer: $12,900
Explanation:
From the question, we are told that Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about buying his LLC interest. Bob's outside basis in Freedom, LLC, is $7,000 which includes his $1,900 one-fourth share of the LLC's debt. Bob's 704(b) capital account is $14,000. We are further told that Tom bought Bob's LLC interest for $11,000.
Tom's outside basis be in Freedom, LLC will be the amount that he paid for Bob's LLC interest plus the share of LLC’s debt. This will be:
= $11,000 + $1,900
= $12,900
Answer:
A) web survey system
Explanation:
A web survey system is used to create a database with the customers' stored answers to the questionnaire. That database can be processed by statistical software to provide analytical information about Havtol's customers, the products they prefer and other relevant information (depending on what the questionnaire was about).
