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The sale of an extended warranty is recorded as O an expense in the period when the goods or services are sold. O a
The sale of an extended warranty is recorded as O an expense in the period when the goods or services are sold. O a warranty liability for all costs incurred after sale due to correction of defects. O revenue in the period(s) in which the service-type warranty is in effect. O an assurance type warranty which is included in the sales price of the product.
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
10th Edition
1305793196, 978-1305793194
