Answer:
The correct answer is letter "D": Merchantability.
Explanation:
An Implied Warranty is a type of grant provided by warranties stating the purpose of a product is fit to the purpose it was made for. This warranty can be provided written or verbally. The implied warranty of merchantability specifies that goods purchased must meet a standard of quality, value, and grade compared to other goods sold under the same circumstances.
The warranty of merchantability is supported by the Uniform Commercial Code (UCC) which is adopted by most states in the U.S.
Answer: Josh's bonus is $35,289.53.
In the question above, we need to look at the net savings that will occur from selling drinks instead of giving them as complimentary drinks. So we have,
Net Savings per year = $11.04 million
The company's MARR = 15%
Josh's bonus is 0.14% of the present value of three years' net savings.
Since the quantum of savings is constant each year, we can calculate the present value of these savings by using the Present Value of annuity formula.
![PVA = P * \left [\frac{1-(1+r)^{-n}}{r} \right ]](https://tex.z-dn.net/?f=%20PVA%20%3D%20P%20%2A%20%5Cleft%20%5B%5Cfrac%7B1-%281%2Br%29%5E%7B-n%7D%7D%7Br%7D%20%5Cright%20%5D%20)
PVA = Present value of three years' net savings = 25.20680529
million
Josh's bonus : 0.14% of present value of three years' net savings.
Josh's Bonus = $0.035289527
million or $35,289.53.
Answer:
a) Assets and expenses
Explanation:
As we know that
The debit portion report assets and expenditures side while sales revenue, stockholder equity, and the liability side are reported in the credit portion.
So by above information, we can conclude that the assets and expenses have a normal debit balance, while other options involves both accounts credit balance or one account has a debit balance and the other account has a credit balance
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