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2 years ago

Why was 2007 considered the "Year of the Recall"?

Business

1 answer:

Karolina [17]2 years ago

8 0

Answer:

Most of the recalls were in the toy industry, which alarmed the public

Explanation:

2007 is known as the "year of the recall" because in that year a very high level of recalls were made by manufacturers but most importantly and alarmingly was the toy industry.

Every child, from being a baby to toddlers and preteens usually have one or more toys that they play with. 2007 seemed like the year to not get toys for kids as it became public knowledge that high amounts of lead was used in toy production that year.

Lead for all its usefulness is a poisonous or dangerous substance to the human body talk more of a kid. The revelation of excessive lead content in toys caused a recall of toys by toy companies among other companies.

Also affected were art supplies, jewelries, etc.

Cheers

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Liabilities are? a.none of these choices are correct. b.the rights of customers. c.the rights of owners. d.the rights of credito

Anna35 [415]

Liabilities are the <u>rights of creditors.</u>

<h3>What is a liability?</h3>

A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.

Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.

Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.

In general, a liability is an obligation that exists between two parties but hasn't been fulfilled or paid for. A financial liability is an obligation in the world of accounting, but it is more specifically characterized by previous business transactions, events, sales, exchanges of goods or services, or anything else that will generate income in the future. Non-current liabilities are typically viewed as long-term obligations because they are anticipated to last more than a year (12 months or greater).

Thus, Liabilities are the<u> rights of creditors.</u>

For more information on <u>creditors</u>, refer to the given link:

brainly.com/question/18484315

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5 0

1 year ago

X-Mart purchased $300 of merchandise and paid immediately. Demonstrate the journal entry to record this transaction, assuming th

tangare [24]

Answer:

See explanation Section

Explanation:

The journal entry to record the purchase of merchandise -

Merchandise Inventory Debit $300

Cash Credit $300

Note: As the perpetual inventory shows the running inventory of cost of goods available for sale. Therefore, every purchase of merchandise will directly debit the merchandise inventory and not the purchase account. Since the company paid immediately, cash decreased.

5 0

3 years ago

Novak Company took a physical inventory on December 31 and determined that goods costing $190,000 were on hand. Not included in

Lorico [155]

Answer: $237070

Explanation:

The amount that Novak should report as its December 31 inventory will be:

Inventory in hand = $190,000

Add: Goods bought from Pelzer Corporation = $25,170

Add: Cost of goods sold to Alvarez Company = $21900

Total = $237070

The amount that Novak should report as its December 31 inventory will be $237070

8 0

2 years ago

In 2017, in proposing a $1 trillion increase in government spending on infrastructure, President Trump argued that the spending

VLD [36.1K]

Answer:

A. the economy is producing at less than its potential output and has some cyclical unemployment.

Explanation:

Increase in government spending will increase domestic income, only if economy is producing at less than its potential output.

Increase in federal government spending raises the level of 'govt expenditure' in Aggregate Demand. This creates 'Excess Demand' (AD > AS). However, if the economy is at full employment level, i.e all the resources are already best efficiently utilised as per their production potential. Then, the economy can't increase its domestic income more than its full employment (full potential) level. So : Increase in government spending in full employment case, wont increase total production/ income/ employment further ; as the economy is already at full employment & can't increase economic activity beyond that.

3 0

2 years ago

How can you improve your credit score?

BARSIC [14]

Answer:

Explanation:

According to Forbes, some ways to raise a credit score quickly include raising credit limits, keeping accounts open and paying bills on time

HAVE A GREAT DAY!

6 0

2 years ago