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A marketing campaign makes unsubstantiated claims for the product it is promoting. Under ________, such advertisements would be

vredina [299]

Answer:

Section 5 of the FTC Act

Explanation:

Section 5 of the FTC Act prohibited companies to make "deceptive actions" during all activities in a commerce.

In marketing, this section of the Act prevented companies to falsely promoting their products. They're required to truthfully listed all ingredients of the product and banned from making claim that are misleading to the consumers.

For example, you can't claim a drug that you sell can cure cancer without proper authorized researches to back it up.

3 0

4 years ago

Jesse company adjusts its accounts monthly and closes its accounts on december 31. on october 31, 2015, jesse company signed a n

Ugo [173]

Answer: Total Interest Expense is $4500 and Monthly Interest Expense is $750

Explanation: A Note Payable is borrowed for a period of 6 months @ 6% annual interest rate. Since the note payable is borrowed for 6 months only, the interest amount will be the annual interest amount divided by 2.

Annual Interest Amount = Principal × 6%

Annual Interest Amount = $150,000 × 6%

Annual Interest Amount = $9,000

But since the notes payable is taken as a loan for a period of six months,

Total Interest Payable = Annual Interest Amount ÷ 2

Total Interest Payable = $9,000 ÷ 2

Total Interest Payable = $4,500

Monthly interest expense, as it says monthly interest expense assumes equal amount each month and there are 6 months for which loan is taken. So the formula will be:

Monthly Interest Expense = Interest Payable ÷ 6

Monthly Interest Expense = $4500 ÷ 6

Monthly Interest Expense = $750

Therefore, Monthly Interest Expense is $750.

4 0

4 years ago

Suppose that you have been given a summer job as an intern at Issac Aircams, a company that manufactures sophisticated spy camer

Phoenix [80]

Answer:

Product Costs :

2. Rent on equipment used in the factory.

3. Lubricants used for machine maintenance.

5. Soap and paper towels used by factory workers at the end of a shift.

6. Factory supervisors salaries

7. Heat, water, and power consumed in the factory.

10. Workers compensation insurance for factory employees.

11. Depreciation on chairs and tables in the factory lunchroom.

15. The cost of packaging the company`s product.

Period Costs :

1. Depreciation on salespersons cars.

4. Salaries of personnel who work in the finished goods warehouse.

8. Materials used for boxing products for shipment overseas.

9. Advertising costs.

12. The wages of the receptionist in the administrative offices.

13. Cost of leasing the corporate jet used by the company`s executives.

14. The cost of renting rooms at a Florida resort for the annual sales conference.

Explanation:

Product Costs are Costs attached to Product and Included in Valuation.

Period Costs are Not Attached to Products and are expended in Income Statement during the Period in which they are incurred.

4 0

3 years ago

The adjusted trial balance of Indigo Corporation at December 31, 2017, includes the following accounts: Retained Earnings $16,65

kobusy [5.1K]

Answer:

$13,971

Explanation:

An income statement indicates the profit or loss a business makes in the financial period. Profits or loss is realized by subtracting expenses from revenue.

The revenue for Indigo Corporation is $35,644,

Expenses

Salaries and Wages Expense $13,785

Insurance Expense $1,799

Rent Expense $3,872

Supplies Expense $1,413

Depreciation Expense $804

Total expenses $21,673

Income will be

=$35,644 - $21,673

= $13,971

Retained Earnings and Dividends are part of company profits. They are not business income or expenses.

6 0

3 years ago

Warranty Costs Milford Company sells a motor that carries a three-month unconditional warranty against product failure. Based on

Yanka [14]

Answer and Explanation:

The computation of the estimated liability and the journal entry is given below:

But before that following calculations need to be done

The Estimated defective units is

= 70,000 × 4%

= 2,800 units

the actual defective units is

= 460 + 350 + 210

= 1,020 units

The no of unclaimed units is

= 2,800 - 1,020

= 1,780 units

Now the warranty expense is

= 1,780 units × $60 per unit

= $106,800

Now the journal entry is given below:

Product warranty expense Dr $106,800

To Estimated liability $106,800

(Being estimated liability is recorded)

6 0

3 years ago