In a Recent Annual Report,Apple Computer Reported the Following in One

question 96

Multiple Choice

In a recent annual report,Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." This note exemplifies Apple's use of:

• A)Conservatism.
• B)The matching principle.
• C)Realization principle.
• D)Economic entity.

---

Definitions:

Forward Scheduling

A planning method that starts from a particular date and moves forward in time to determine the timeline for project or production activities.

Backward Scheduling

A method of scheduling tasks starting with the end goal and working backward to determine the necessary steps and timing.

Christmas Shopping

The purchasing of gifts, decorations, and other festive items in preparation for the Christmas season, typically involving increased retail activity.

Purchase Requisition

A document or electronic form used to formally request the purchase of goods or services within an organization.