The Journal Entry a Company Uses to Record the Estimated

question 95

Multiple Choice

The journal entry a company uses to record the estimated accrued product warranty liability is

• A) debit Product Warranty Expense; credit Product Warranty Payable
• B) debit Product Warranty Payable; credit Cash
• C) debit Product Warranty Expense; credit Cash
• D) debit Product Warranty Payable; credit Product Warranty Expense

---

Definitions:

Preoperational Stage

Piaget’s second stage of cognitive development, in which the preschool child learns to use language as a means of exploring the world.

Cognitive Life

Refers to the mental processes and activities related to thinking, perceiving, and understanding that characterize living organisms.

Centration

A cognitive limitation in early childhood, where a child focuses on one aspect of a situation while neglecting others.

Abstract Concepts

Ideas or thoughts that do not have a physical or tangible representation, often complex and non-concrete.