Warranty Obligations - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/R9Z711iWJXduD8qEPMQuyTK

Label Warranty Obligations

Preferred Label Warranty Liability

Identifier N/A

Alternative Labels

None

Definition

Warranty Obligations, also known as Warranty Liabilities, are commitments made by a company to repair, replace, or refund products that are found to be defective within a specified period. These obligations are recognized as a liability on the company's balance sheet, and an expense is recorded in the income statement to match the estimated future costs of honoring the warranties.

Class Relationships

Sub Class Of

• Contingent Financial Obligations

Is Defined By

N/A

Class Hierarchy Visualization

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Additional Information

Metadata

Comment

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Description

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Notes

• None

Editorial Information

History Note

None

Editorial Note

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Deprecated

No

Source and Origin

No source or origin information available