The liability for product warranty claims is an example of a liability that:
A) has been calculated using estimates.
B) has been recorded in the process of matching revenue and expense.
C) also resulted in a reduction of net income.
D) all of these.

Question

Quizplus · Accepted Answer

The liability for product warranty claims involves estimates, is recorded to match revenue and expenses, and affects net income, making all options correct.

The Liability for Product Warranty Claims Is an Example of a Liability