Use the Following Information for Questions 37-39

question 38

Multiple Choice

Use the following information for questions 37-39.
Jems & Jewels Inc. offers a two-year warranty against failure of its products. The estimated liability is 4% of sales in the year of sale and 6% in the second year. Sales for 2016 and 2017 were: $2,500,000 and $2,800,000, respectively. They incurred no warranty costs in 2016 but in 2017 they spent $175,000 on repairs related to the warranties from 2016 and 2017.
-The warranty expense for 2016 was

• A) $80,000.
• B) $100,000.
• C) $150,000.
• D) $250,000.

Identify and describe the steps involved in the project management process.

Recognize the importance of effective communication in managing projects.

Outline the benefits of using project management techniques for organizations and individuals.

Develop skills to create and interpret Gantt and PERT charts.

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Definitions:

Ethical Questions

Queries or dilemmas that involve discerning the best course of action when faced with a situation involving moral principles.

Sarbanes-Oxley Act

A United States federal law established to protect investors by improving the accuracy and reliability of corporate disclosures.

Unlawful Conduct

Actions that violate statutory law, often reflecting behavior considered criminal or illegal.

Code of Conduct

A collection of rules intended to establish proper conduct for individuals within a specific group, organization, or profession.