During a period of falling prices, which of the following inventory s generally results in the lowest balance sheet amount for inventory. ()

For accounting purposes, the business entity should be considered separate from its owners if the entity is ( ).

A.a
B.a
C.all
D.a

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The journal entry a company uses to record the estimated accrued product warranty liability is （）.

A.debit Product Warranty Expense；credit Product Warranty Payable
B.debit Product Warranty Payable；credit Cash
C.debit Product Warranty Expense；credit Cash
D.debit Product Warranty Payable；credit Product Warranty Expense

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