Which of the Following Accounting Principles Requires That Warranty Expense

question 102

Multiple Choice

Which of the following accounting principles requires that warranty expense must be estimated and recognized in the same period when 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:

Unattended Stream

Information or sensory input that is not actively being focused on or processed by the conscious mind.

Attentional Capture

The involuntary redirecting of attention towards a specific stimulus without intentional control.

Attentional Resources

Cognitive capacity or energy available at a given time for processing information and performing tasks.

Inattentional Blindness

A psychological lack of attention wherein an individual fails to perceive an unexpected stimulus in plain sight.