Answer:
C) An accrued liability of $50,000 and would disclose a contingent liability for an additional $10,000.
Explanation:
Since it is probable that Mith will lose the case, hen it must report an accrued liability of $50,000 which represent the most likely outcome of the lawsuit. But since it is also possible that they have to pay $10,000 more, they should report that amount as contingent liability.
Contingent liabilities are those events that can result in a loss and have more than 50% chance of occurring. Since it is not certain that it will happen, they are considered contingent (or just in case).
Since the first $50,000 are probable, they must be recorded as accrued liabilities, since the last $10,000 are possible, they must be recorded as contingent liabilities.
The answer is Boxplot II. The standard deviation for the data associated with Boxplot II will likely have a larger standard deviation. Boxplot II has a greater spread than Boxplot I, as measured by the interquartile range, which is related directly to the standard deviation of a data set.
Answer:
b. a branding strategy in which a company uses one name for all of its products in a product class.
Explanation:
Multi-product branding is a branding strategy in which a company uses one name for all of its products in a product class.
Multi-product branding is a business strategy widely used by manufacturers, it involves producing and selling multiple products using the same brand name for all.
For instance, Pears may have Pears diapers, clothing lines, lipstick ranges, shoes, body lotions, eye shadow, foundation etc. They are all different products manufactured and all branded as Pears.
The merits and advantages of Multi-product branding is high brand awareness, low promotional and advertising costs, and brand equity return.
Answer:
(D) Dr Sales Returns and Allowances 150,000
Cr Sales Refund Payable 150,000
Dr Inventory Returns Estimated 90,000
Cr Cost of goods sold 90,000
Explanation:
Based on the information given The adjusting Journal entry or entries to record the expected sales returns is (are):
Dr Sales Returns and Allowances 150,000
Cr Sales Refund Payable 150,000
[(8%*2,000,000)-10,000]
Dr Inventory Returns Estimated 90,000
Cr Cost of goods sold 90,000
[(8%*1,200,000-6,000]
