Which Statement About Warranties Is Correct

question 68

Multiple Choice

Which statement about warranties is correct?

• A)Warranties sold separately are accounted for under IAS37.
• B)Warranties sold separately are accounted for under IAS18.
• C)Warranties are financial liabilities and accounted for at fair value.
• D)Expected value uses a weighted average of possible outcomes.

---

Definitions:

20 Days

A specific time period consisting of twenty consecutive days.

Hire Date

The specific date on which an individual officially begins their employment with an organization.

Employee Benefits

Various non-wage compensations provided to employees in addition to their normal salaries or wages. These can include health insurance, retirement plans, and vacation time.

Accountant

A professional specializing in maintaining and examining financial records, ensuring accuracy and compliance with laws.