53. Which type of warranty is/are accounted for as a separate performance obligation: 1- A normal warranty that the customer can purchase the warranty separately, 2- A normal warranty that provides a service in addition to assurance that the product complies with specifications, 3- A normal warranty that provides assurance that the product complies with specifications Select one: а. b. 2 C. 1 d. 1 and 3 е. 1 and 2 3.

53. Which type of warranty is/are accounted for as a separate performance obligation: 1- A normal warranty that the customer can purchase the warranty separately, 2- A normal warranty that provides a service in addition to assurance that the product complies with specifications, 3- A normal warranty that provides assurance that the product complies with specifications Select one: а. b. 2 C. 1 d. 1 and 3 е. 1 and 2 3.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

53. Which type of warranty is/are accounted for
as a separate performance obligation:
1- A normal warranty that the customer can
purchase the warranty separately,
2- A normal warranty that provides a service in
addition to assurance that the product complies
with specifications,
3- A normal warranty that provides assurance
that the product complies with specifications
Select one:
а.
b.
2
C.
1
d.
1 and 3
е.
1 and 2

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