Question: PLEASE ANSWER WHAT QUESTIONS YOU CAN. ITS OKAY TO SUBMIT IF THERE ARE SOME QUESTIONS THAT YOU DO NOT KNOW THE ANSWER TO. 1) What

PLEASE ANSWER WHAT QUESTIONS YOU CAN. ITS OKAY TO SUBMIT IF THERE ARE SOME QUESTIONS THAT YOU DO NOT KNOW THE ANSWER TO.

1) What is the five control indicators in accounting? What are some examples?

2) Would a workout company be allowed to charge $350 upfront and send their product of workout videos to the consumer later in the year under the bill-and-hold agreement? What are 4 conditions of the bill-and-hold agreement?

3) GetFit Frieda offers a two-year warrantee on her workout clothing. If you, Frieda's accountant, only reported the expenses when the warrantee policy was enacted, what would be reflected on the financial statements? What is the most accurate way of reporting potential warrantee claims?

4) You read in the newspaper that the software company that oversees GetFit Frieda's online transactions has been sold to another company. How could this directly impact how you complete GetFit Frieda's financial statements? Why?

5) GetFit Frieda is being sued for $100,000 by BuffUp Betty, who alleges that Frieda stole her business model and copied her name. Explain the three possibilities for documenting this potential contingent liability (or not) on the financial statements, and why.

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