Examlex
In a normal cost system,actual production overhead costs are typically accumulated in an Overhead Control account and assigned to Work in Process at the end of the period.
Implied Warranties
Warranties not explicitly stated but presumed by law to provide certain assurances regarding the quality or functionality of a product.
Express Warranties
Explicit promises made by a seller to a buyer regarding the quality or nature of a product.
Disclaimed
A statement that denies responsibility, affiliation, or connection to something.
Impossibility of Performance
A legal doctrine where a party may be released from a contract due to unforeseen events making fulfillment unfeasible.
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