Why Would a Buyer Be Relieved of the Implied Statutory

question 24

Multiple Choice

Why would a buyer be relieved of the implied statutory requirement to make its intended purpose of purchasing goods known to the seller of those goods?

• A) The goods will be used in their ordinary purpose.
• B) The buyer is reliant on the inspection of goods.
• C) The goods will be bought by description.
• D) The seller's goods are being sold by description

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Definitions:

Net Operating Income

The profit a company makes after deducting operating expenses, excluding interest and taxes.

Break-Even

The point at which total costs and total revenues are equal, resulting in neither profit nor loss.

Sales Dollars

The total amount of revenue generated from the sale of goods or services, expressed in monetary units.

Common Fixed Expenses

Costs that do not change with the level of production or sales and are shared across different segments or products of a business.