Which of the following statements is false? a. it is possible to compare one firm's accounting data with another firm's accounting data as long as both firms used generally accepted accounting procedures
b. many managers compare the financial results from one accounting period with the results from previous accounting periods
c. most corporations include in their annual reports comparisons of important elements of their financial statements for recent years
d. the format and information contained in one firm's financial statements are most likely to differ drastically from the format and information contained in another firm's financial statements
e. many firms compare their financial results with industry averages

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?