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astraxan [27]
3 years ago
8

All of the following statements related to recording warranty expense are true except: Multiple Choice Recording estimated warra

nty expense requires a debit to Warranty Expense. Warranty expense should be recorded in the period when the warranty service is performed. Estimated warranty expense is recorded when revenue from the sale of the product or service is reported. The seller reports a warranty obligation as a liability. Warranty costs are probable and the amount can be estimated.
Business
1 answer:
wel3 years ago
5 0

Answer:

<em>Warranty expense should be recorded in the period when the warranty service is performed.</em>

Explanation:

When the product is sold, a product guarantee liability and warranty cost should be reported if it is possible that consumers may make claims under the warranty and the amount can be calculated.

Those two provisions are part of the Financial Accounting Standards Statement No. 5 of the FASB, Accounting for Contingencies.

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Answer:

B 240

Explanation:

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3 years ago
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What is the meaning of accounting.
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Suppose a hypothetical economy is currently in a situation of deficient aggregate demand of $16 billion. Four economists agree t
GarryVolchara [31]

Answer:

Economist A

Government spending multiplier $4billion

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Economist B

Government spending multiplier $8billion

Tax multiplier $2billion

Explanation:

Computation for the amount the government would have to increase spending to close the output gap according to each economist's belief

ECONOMIST A

Government spending multiplier=16/4

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Tax multiplier=$8billion

ECONOMIST B

Government spending multiplier=16/2

Government spending multiplier=$8billion

Tax multiplier=16/8

Tax multiplier=$2billion

Therefore the amount the government would have to increase spending to close the output gap according to each economist's belief are :

ECONOMIST A

Government spending multiplier=$4billion

Tax multiplier=$8billion

ECONOMIST B

Government spending multiplier=$8billion

Tax multiplier=$2billion

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3 years ago
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Answer:

The correct answer is letter "B": Client/Student Advocacy.

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According to anthony downs model, a rational party will adopt the policy position that is
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