The matching principle requires businesses to record Warranty Expense when the warranty costs are incurred.

Name: The matching principle requires businesses to record Warranty Expense when the warranty costs are incurred.
Brand: Quizplus
Rating: 4.9 (41 reviews)

Question

Quizplus · Accepted Answer

The matching principle requires businesses to record Warranty Expense in the same period in which the revenue from the sale of the warranted product is recognized, not necessarily when the warranty costs are actually incurred.

The Matching Principle Requires Businesses to Record Warranty Expense When