An Implied Warranty Is

question 27

Multiple Choice

An implied warranty is

• A)available for all new and used products.
• B)an unspoken promise that there is nothing siguificantly wrong with the product.
• C)limited to one year.
• D)states exactly what is covered and what is not.

---

Definitions:

Inventory Savings

Reductions in costs achieved through efficient management of stock, including ordering, storing, and using goods or materials.

Economic Order Quantity

A calculation that determines the optimal order quantity that minimizes total inventory costs, including holding, ordering, and shortage costs.

Safety Stock

An extra quantity of inventory kept on hand to prevent stockouts caused by unpredictable demand or supply delays.

Inventory Management

The supervision of non-capitalized assets and stock items, aiming to ensure that items are available when needed without overstocking.