You are studying with some classmates, and one of them states the following: Expenses related to assurance-type
Question:
You are studying with some classmates, and one of them states the following:
“Expenses related to assurance-type warranties are accrued at the time the related product is sold, but recognized as expenses during the period covered by the warranty. This is similar to what is done with service-type warranties.”
Required
Identify and explain the flaws in your classmate’s logic.
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Related Book For 
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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