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15. The expense warranty accrual method a. violates the matching concept b. requires recognition in the period of sale of the estimated warranty expense and
15. The expense warranty accrual method
a. violates the matching concept
b. requires recognition in the period of sale of the estimated warranty expense and warranty
liability
c. separates accounting for two components of the sales price: the price of the product and
the price of the warranty
d. debits warranty costs to expense in the period when warranty expenditures are made
16. Liabilities whose amounts must be estimated are disclosed in financial statements by
a. including details in the footnotes
b. describing the estimated liability among the liabilities on the balance sheet, but not
including the amounts in the liability totals
c. an appropriation of retained earnings
d. including the amounts in the liability totals
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