Examlex
Match the terms below with the examples.
-Providing feedback to your supervisor.
Loss Contingencies
Potential losses that a company might incur if a certain event occurs, recognized in financial statements if the loss is probable and the amount can be reasonably estimated.
Indirect Guarantees
Guarantees provided by a third party to ensure the fulfillment of a contractual obligation indirectly, such as through a subsidiary or parent company.
Warranty Accrual Method
An accounting method used to estimate the future costs of warranties and allocate them to the period in which the related revenue is recognized.
Warranty Expense
Represents the cost that a company expects to incur under its warranty obligations to repair or replace products that it has sold.
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