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Basic Question 10 of 24
What is the accounting principle associated with the GAAP requirement that warranty costs be recognized in the period of sale of the underlying product?
B. Materiality
C. Full disclosure
D. Revenue recognition
A. Matching
B. Materiality
C. Full disclosure
D. Revenue recognition
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Learning Outcome Statements
describe general principles of expense recognition, specific expense recognition applications, implications of expense recognition choices for financial analysis and contrast costs that are capitalized versus those that are expensed in the period in which they are incurred
CFA® 2025 Level I Curriculum, Volume 2, Module 2.