What is the impact on the accounting equation while establishing a provision for the estimated cost of
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What is the impact on the accounting equation while establishing a provision for the estimated cost of a 3-year warranty scheme for goods sold?
(a) Increase liabilities: decrease ownership interest (expense)
(b) Decrease liabilities: Increase ownership interest (revenue)
(c) Increase assets: decrease liabilities
(d) Decrease assets: decrease liabilities
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a As the costs associated ...View the full answer
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