Warranties Should Be Accrued If It Is

question 22

Multiple Choice

Warranties should be accrued if it is

• A) probable that an expense will be incurred and the amount is reasonably estimable.
• B) possible that an expense will be incurred regardless of whether the amount is estimable or not.
• C) possible that an expense will be incurred and the amount is reasonably estimable.
• D) remote that any costs will be incurred.

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Definitions:

Trivial

Of very little importance or value; insignificant.

Academic Readiness

The state of having the skills, knowledge, and attitude necessary to succeed in a scholarly environment.

Concentrate And Focus

The mental effort directed towards a specific task or activity, excluding distractions to maintain attention on the chosen object of attention.

White Privilege

The societal advantages that benefit people whom society identifies as white, beyond what is commonly experienced by non-white people under the same social, political, or economic circumstances.