Sounds more like the latter than the former. Disconnecting the battery would not trigger the airbag light, and it cannot just be re-set by most shops. You need a PST (Porsche specific computer) to re-set it, so you're going to have to either to go the dealer or find an independent Porsche shop.
If you haven't already, have a shop do a PPI on the car before you even consider buying it.
Patrick
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