Answer:
Journal entry to record sale of toasters and warranty
Dr Cash 36,000
Cr Sales revenue 36,000
Dr Warranty expense 2,400
Cr Warranty liability 2,400
Adjusting entry for actual warranty expense
Dr Warranty liability 500
Cr Cash 500
Since the warranty covers a 5 year period, the remaining warranty expense cannot be recognized as warranty revenue yet. Only after the warranty period is over, will any money left over will be recognized as revenue.
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Answer:
The correct words for the blank spaces are: Emotional Intelligence; Relationship Management.
Explanation:
Emotional Intelligence refers to the ability individuals have to control their emotions in reference to the interactions they have with others. Emotional Intelligence has four (4) factors: <em>Self-Awareness, Self-Management, Social Awareness, </em>and <em>Relationship Management</em>.
Relationship management involves getting along with others, handling conflict effectively, and using sensitivity to manage interactions successfully.
Answer:
A. The World of trade
Explanation:
The marketplace is an economic system where companies compete with each other in order to sell their products. It is a place where trade occurs. In the broadest terms, a marketplace is the world of trade where buying of goods and services takes place.
Answer: Decrease, decrease
Explanation: Substitute goods are those goods that are used in place of each other. When the price of a substitute good falls, it becomes more attractive to the consumers. Here, wood planks and wood beams are substitutes to each other. So, when price of wood plank falls, demand for wood beams will decrease, shifting the demand curve to the left. As a result, of this the equilibrium price of wood beams and the quantity of wood beams will also decrease.
