Since ancient times, stringed instruments, known as chordophones, have developed to all shapes and sizes. These instruments make sounds by vibrating strings. The strings may be played with a bow, plucked with fingers, or struck with hammers. Nearly all chordophones are made up of strings stretched across a resonator.
Warranty expense. Warranty expense is an example of a situation when taxes payable are greater than income tax expense because on the income statement statment estimated warranty expense is deductible and on the tax return only actual warranty expenses are deductible. Iâm trying to understand that through an example.
An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).