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bixtya [17]
2 years ago
9

After having problems with her Mitsubishi car, sandra salazar had santa Fe Mitsubishi install a used LO1 motor in it. when she p

icked up the car, a Mitsubishi employee told salazar to bring the car back if she had any problems. The car was smoking when she drove it home, and two days later, after the car’s oil light went on, a gas station attendant checked the oil and found that the car was totally out of oil. salazar took the car back to Mitsubishi for repair. The car still smoked and lost oil quickly and finally would not run. when Mitsubishi would not replace the engine at no cost, salazar sued Mit- subishi, alleging violation of an express warranty as a result of the employee’s statement to bring the car back if she had any problems with it. was the statement an express warranty?
Business
1 answer:
ehidna [41]2 years ago
6 0

Answer:

The statement is not an express warranty, because it doesn't involve a negotiation of terms between Salazar and Mitsubishi. It is an employee of the company that imploy Salazar to bring the car should the car gives problem, and didn't involve an agreement between the two parties ( Salazar and Mitsubishi)

Explanation:

What is express warranty?

An express warranty arises from the parties’ negotiations in a sales transaction. Express warranties are often included in the written terms of a contract. An “express” warranty by a seller is created by:

Any statement of fact or promise relating to the goods sold which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the statement or promise.

Any description of the goods sold which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the description.

Any sample or model, which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the sample or model.

An express warranty may be created even if the seller does not use formal words such as “warranty” or “guarantee,” and even if the seller does not have a specific intention to make a warranty. However, an express warranty is not created merely because the seller makes a statement as to the value of the goods, or as to seller’s opinion of the goods. Generally, statements made by a seller during the course of contract negotiations are treated as statements of fact, unless it can be shown that the buyer could only have reasonably considered the statement to be an opinion.

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Which statement best describes a significant similarity between the AICPA and IESBA codes? Both codes incorporate the conceptual
34kurt

Both codes incorporate the conceptual framework approach for evaluating threats when specific rules on a matter do not exist.

Explanation:

IFAC has enacted a Code of Ethics for Professional Accountants (IESBA Code), the International Ethics Standards Committee for Competent. The latest IESBA Code edition was upgraded and modified in July 2009 and comes into force on 1 January 2011. The adjustments clarified and considerably strengthened the independence specifications for all competent accountants.

IESBA and AICPA are more comparable than they are, but there are substantial differences. In many instances it will produce similar effects if codes are added to the same pattern of truth.

The IESBA Code deals with a number of possible independence issues which are covered by the AICPA Conceptual Structure but not AICPA. Examples include the Long Senior Human Resources Group (including Team Rotation).

Certain independence restrictions are enforced by the IESBA Code representing the "extent of public interest in certain companies" (i.e. entities listed on an accepted stock exchange for whose shares are listed), and institutions whose auditors are legally or administrative authorities required to comply with the same requirements for independence as the listings).

The IESBA splits the conditions for freedom into two regions. Section 290 offers the toughest prohibitions and includes accounting reports and audits. Section 291 generally provides less stringent requirements of freedom for all other insurance obligations. The AICPA does not change the principles of equality.

6 0
2 years ago
An industry dominated by a few large firms, all of which struggle with product differentiation, is known as A. multi-domestic. B
denis23 [38]

Answer:

A

Explanation:

Multidomestic

Multidomestic describes a set of strategies used by companies that operate in more than one country at a time. When businesses take their operations into markets overseas, they will naturally tend to act differently than their larger competitors, many of them choosing a multidomestic strategy. A multidomestic company is a business that uses a different approach in each of the markets it operates in.

A good example of a multidomestic company is Nestlé. Nestlé uses a unique marketing strategy and sales approach for each of the markets in which it operates. They conform their products to local tastes by offering different products in different markets.

8 0
2 years ago
Tamarack Company purchased a plant from one of its suppliers. The $1,000,000 purchase price included the land, a building, and f
timama [110]

Answer

<h3>The total purchase price allocated to land, building, and machinery accounts is $140,840, $509,707 and $355,453 respectively.</h3>

<h3>Explanation</h3>

<h3><em>Calculation of Total purchase price</em></h3>

  • Total purchase price = purchase price + legal fee        

                                   = 1.000.000 + 6.000

                                   = 1.006.000  

Allocation of the total purchase price to the land, building, and machinery accounts in Tamarack Company’s record:

  • Land = Total purchase price * (Assesed Value of Land / Total Property       Assessed Value)

= 1.006.000 * (126.000 / 900.000)

= 140.840

  • Building = Total Purchase Price * (Assesed Value of Machinery / Total Property Assessed Value)

Building =  1.006.000 * (318.000 / 900.000) = 355.453,3

<h3>Thus, the total purchase price allocated to land, building, and machinery accounts is $140,840, $509,707 and $355,453 respectively.</h3>

4 0
2 years ago
Consider the following information from the records of Bennington Corporation. The company uses the weighted-average method. Bri
Rom4ik [11]

Answer:

$3,735

Explanation:

The computation of the total cost that will be included in the numerator of that calculation is shown below:

= Beginning work in process + cost added during the period

= $350 + $3,385

= $3,735

Basically, we added the beginning work in process and the cost added during the period

The same amount is shown on the numerator side while calculating the cost per equivalent unit

3 0
2 years ago
Patty Corporation holds 75 percent of Slider Corporation's voting common stock, acquired at book value. The fair value of the no
Marina86 [1]

Answer:

1) d. $175,000

2) b. $156,250

Explanation:

1. The computation of net income for 20X9 under the treasury stock method is shown below:-

Net income for 20X9 under the treasury stock method = Janet Operating income + Slider operating income

= $100,000 + $75,000

= $175,000

2. The computation of income assigned to the controlling interest for 20X9 is shown below:-

income assigned to the controlling interest for 20X9 = Janet Operating income + (Slider operating income × Remaining percentage)

= $100,000 + ($75,000 × 75%)

= $100,000 + $56,250

= $156,250

Therefore we have applied the above formulas.

5 0
2 years ago
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