Which of the following is not a defect in manufacture?
A) Failure to properly package the product
B) Failure to properly assemble the product
C) Failure to properly check the quality of the product.
D) Failure to properly test the product
A
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Insurance expense for the period is a function of which of the following?
A) the beginning prepaid balance, current premium payments and the ending prepaid balance B) the beginning prepaid balance and the current period premium payments C) the current period premium payments D) the current period premium payments and the ending prepaid balance
Which of the following is correct if at the end of Crystal Imports' first year of operations, Assets are $800,000 and Owners' Equity is $720,000?
A. The owner(s) must have invested $800,000 to start the business. B. The business must be operating profitably. C. Liabilities are $80,000. D. Liabilities are $1,520,000.