What Is an Implied Warranty and an Expressed Warranty? You

question 5

Essay

What is an implied warranty and an expressed warranty? You have just filled up your car with gasoline.Give an example of an expressed and an implied warranty that might have accompanied your purchase.

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Definitions:

Issued

Pertains to shares of a corporation that have been allocated to and are held by shareholders.

Straight-Line Amortization

Straight-line amortization is a method of gradually reducing the book value of an intangible asset over a fixed period of its useful life.

Bond Interest Expense

The periodic expense incurred by an issuer of bonds as payment to the bondholders for their investment, typically paid semi-annually.

Face Value

The nominal value printed on a financial instrument such as a bond or stock certificate, representing its legal value.