Answer:
A.31-Jan
Dr Product Warranty Expense $30,825
Cr Product Warranty Payable $30,825
B. 15-Aug
Dr Product Warranty Payable $513
Cr Supplies $391
Cr Wages Payable $122
Explanation:
a. Preparation of the journal entry for the estimated warranty expense on January 31 for January sales Jan. 31
31-Jan
Dr Product Warranty Expense $30,825
(411,000*7.5%)
Cr Product Warranty Payable $30,825
b. Preparation of the journal entry for the August 15 warranty work
15-Aug
Dr Product Warranty Payable $513
($391+$122)
Cr Supplies $391
Cr Wages Payable $122
Answer:
<u>Administrative delay</u>, <u>restrict trade</u>
Explanation:
An administrative delay refers to a procedural delay which occurs when a foreign product is allowed to be sold in the domestic market. In such a case, a waiting period gets imposed before the expiry of which the foreign exporter cannot enter the domestic market and sell it's products.
This delay is in the form of going through a very time consuming and cumbersome process of availing licenses, permits, sanctions, etc from the government.
Administrative delay acts as a barrier to trade since in a way it discourages the exporters from exporting their products to a foreign market owing to a tedious cumbersome time consuming procedure.
The practice is used by governments to restrict trade.
Answer:
The correct answer is False. This statement corresponds to Supply chain effectiveness.
Explanation:
Efficiency in the supply chain is understood as the sum of three main factors: ensuring that the product arrives in the quality conditions required by the customer; at the agreed time (timely); and at a fair and reasonable cost. But success in this triad is as much the result of a series of internal processes as of external conditions to the organization.
