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7) An option to purchase a warranty is recorded as (1.5pts) a warranty liability for all costs incurred after sale due to correction of defects.

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7) An option to purchase a warranty is recorded as (1.5pts) a warranty liability for all costs incurred after sale due to correction of defects. an assurance type warranty which is included in the sales price of the product an expense in the period the goods or services are sold. Drevenue in the period that the service-type warranty is in effect

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