Indicate Whether Each of the Following Statements Is True or False

question 90

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)The extension of a warranty on goods sold normally represents a legal liability to the seller.
_____ b)The entry to recognize the warranty obligation increases the Warranties Payable account and reduces the Revenue account.
_____ c)The entry to record the repairs provided to customers under the terms of product warranties increase Warranties Expense and decrease the Warranties Payable account.
_____ d)Net income is not affected by the entry to record the completion of warranty work.
_____ e)Total assets are not affected by the end-of-period entry to record the warranty obligation.

Identify the criteria violated in unsuccessful brand naming cases.

Differentiate between brand strategies based on product association and market segments.

Understand the impact of cultural and linguistic differences on global brand naming strategies.

Recognize the concept of subbranding and its application in extending product lines.