A(n) _____ Refers to a Product or Service, Such as a Technical

question 27

Multiple Choice

A(n) _____ refers to a product or service, such as a technical report, a training session, a piece of hardware, or a segment of software code, produced or provided as part of a project.

• A)deliverable
• B)input  
• C)system
• D)resource

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Definitions:

Warranty Accrual Method

An accounting approach where a company estimates future warranty expenses and records them as a liability at the time the product is sold.

Warranty Expense

Costs a company expects to incur as a result of repairing or replacing products within the warranty period.

Warranty Costs

Expenses incurred by a company due to servicing or replacing products under warranty.

Premium Expense

The cost associated with purchasing insurance policies, which may be recognized periodically as an expense in financial statements.