{"iri":"http://lmss.sali.org/R9Z711iWJXduD8qEPMQuyTK","id":"R9Z711iWJXduD8qEPMQuyTK","label":"Warranty Obligations","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.","prefLabels":["Warranty Liability"],"altLabels":[],"examples":[],"notes":[],"sources":[],"branch":{"iri":"http://lmss.sali.org/RhBgnef56iLBXYfPqWQE41","label":"Financial Concepts and Metrics"},"parents":[{"iri":"http://lmss.sali.org/R8Gt68Hspze0zsEdYzUS2Fq","id":"R8Gt68Hspze0zsEdYzUS2Fq","label":"Contingent Financial Obligations"}],"children":[],"relations":[],"url":"https://lmss.io/tag/R9Z711iWJXduD8qEPMQuyTK/","source":{"repo":"sali-legal/LMSS","ref":"3f9ac0c9357b2a971582ae79ede243511d47811d","channel":"pre-release"}}