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Vitek1552 [10]
3 years ago
11

Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December2018 of a circuit fla

w in an amplifierthat poses a potential fire hazard. An intense investigation indicated that a productrecall is virtually certain, estimated to cost the company 52 million. The fiscal year ends on December 31.Required:1. Should this loss contingency be accrued, only disclosed, or neither? Explain.2. What loss, if any, should Sound Audio report in its 2018 income statement?3. What liability, if any, should Sound Audio report in its 2018 balance sheet?4. Prepare any journal entry needed.
Business
1 answer:
julsineya [31]3 years ago
4 0

Answer:

Please see attachment .

Explanation:

Please see attachment .

Download pdf
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Firms face competing pressures in the marketplace-how to achieve lower costs through proven approaches to production, while look
nignag [31]

Answer:

a. leverage skills and products associated with a firm's core competencies from one country to another.

Explanation:

Company A can still meet the demands of the local markets and the competitive pressures it is facing by utilizing its core competences and deploring its products internationally.  A hybrid of localization and international strategies would be more appropriate.  This hybrid approach will enable the company "to realize the full benefits from economies of scale and learning effects, without losing on location economies," as desired in the case study.

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3 years ago
Unemployment is often called a lagging or trailing indicator because unemployment tends to rise some time after the economy begi
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Answer:

B) firms reduce hours before laying off when the economy is in recession, and increase hours before hiring when the economy expands.

Explanation:

In the case when the output falls so the workers would not be laid off in a direct manner. In the first time the labor would be decreased so that the demand could be analyzed. The same would be happen in that case also where the growth picked up

Therefore in the given case, the option B is correct

And the other options are wrong

7 0
2 years ago
Justin, a real estate salesperson with City Brokerage, received a referral fee after referring a client to Mark, another real es
Ganezh [65]

Answer: Justin's sponsoring broker

Explanation:

From the question, we are informed that Justin, a real estate salesperson with City Brokerage, received a referral fee when he refered a client to Mark, who is another real estate salesperson with City Brokerage.

The person to pay Justin his referral fee will be Justin's sponsoring broker. It should be noted that when another agents gets a referral from an agent, the sponsoring broker is the one who gives the referral fee to the referring agent.

8 0
3 years ago
Brandy’s Balloon Service currently sells 1,000 balloon bundles per month. The competition in the balloon industry continues to s
andreyandreev [35.5K]

Answer:

The answer is: 1,375 balloon bundles

Explanation:

We can calculate how many balloon bundles must be sold using the following formulas:

  • contribution margin per unit =  Selling price per unit – Variable cost per unit
  • Units = (Fixed costs + Target profit) / (contribution margin per unit)

Contribution margin per unit = $10 - $2 = $8

units = ($5,000 + $6,000) / $8 = $11,000 / $8 = 1,375 units

8 0
3 years ago
Which phrase best completes the diagram?
igomit [66]
Low gross domestic product
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