1. The 20X9 appropriate percentage based on analysis is

a.            56%

b.            53%

c.             72%

d.            60%

2. Auditing adjustment #12 includes a

a.            Credit to warranty expense in the amount of 286,883

b.            Debit to warranty liability in the amount of 286,883

c.             Debit to warranty expense in the amount of 544,000

d.            Debit to warranty expense in the amount of 286,883

3. Brony’s Bikes warranty covers valid customer claims

a.            For all except the Himalaya model

b.            Until December 31 for the year of sale

c.             For one year after the date of sale

d.            But only one customer claim is permitted per product

4. A compensating bank balance

a.            Is something like a revolving credit agreement

b.            Serves as collateral to the bank for loans payable to the bank

c.             Compensates for any errors made by the bank

d.            Compensates for any errors made by the bank customer