The Elle Corporation manufactures fingernail polish.Suzy buys a container of Elle's fingernail polish,applies it to her nails,and suffers a severe allergic reaction.She sues Elle under the implied warranty of merchantability.The test for determining whether Suzy will recover is whether:

A) the nail polish she bought was suitable for the needs of the average consumer.
B) the nail polish she bought properly performed its function of coloring one's nails.
C) such a reaction in an appreciable number of consumers was reasonably foreseeable.
D) the ingredient causing the reaction was foreign to the nail polish or natural to it.

Define a relationship.

Treats fixed selling cost as a period cost
A)Absorption costing only
B)Variable costing only
C)Both absorption and variable costing

Record the following transactions related to purchases for Horston's Art Supplies using the general journal form provided below. Assume Horston's uses a periodic inventory system. Omit transaction descriptions from entries.​