Which of the Following Accounting Principles Requires That Warranty Expenses

question 12

Multiple Choice

Which of the following accounting principles requires that warranty expenses must be estimated and recognized in the same period as the related sales revenue is recognized?

• A)the matching principle
• B)the disclosure principle
• C)the revenue principle
• D)the consistency principle

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Definitions:

Biology

The scientific study of life and living organisms, covering a wide range of topics from the molecular to the global ecosystem.

Maladaptive

Behaviors or characteristics that are counterproductive to an individual's wellbeing or to the survival of a species.

Mesopotamia

An ancient region located in the eastern Mediterranean, known as the "Cradle of Civilization" for its early developments in agriculture, writing, and urbanization.

Adaptive

Having the capacity to adjust to new conditions or environments, or modify oneself to fit changing situations or demands.