Use the Following Information for Questions 40-42

question 24

Multiple Choice

Use the following information for questions 40-42.
Melman Microscopes Inc. offers a two-year warranty against failure of its products. The estimated liability is 1.5% in the year of sale and 3% in the second year. Sales and actual warranty expense for 2016 and 2017 were:
-The warranty liability on the December 31, 2016 balance sheet was

• A) $47,500.
• B) $105,000.
• C) $110,000.
• D) $157,500

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Definitions:

Marketing Techniques

Strategies and methods used to promote and sell products or services to target consumers.

Theft Of Trade Secrets

The unauthorized acquisition, use, or disclosure of confidential business information that provides an enterprise with a competitive edge.

Computer Network

A set of computers connected together for the purpose of sharing resources such as files, printers, and internet connections.

Confidential Business Data

Refers to sensitive business information that is not publicly available and is protected by law or through confidentiality agreements.