In Bringing a Warranty Action,the Buyer Must Prove

question 35

Multiple Choice

In bringing a warranty action,the buyer must prove:

• A) whether the warranty was express or implied.
• B) that breach of the warranty proximately caused the loss suffered.
• C) reliance on the affirmations,promises,descriptions,samples,or models the seller made or used.
• D) All of these.

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Definitions:

Absorption Costing

A method of costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overheads - in the cost of a product.

Net Operating Income

This is the total profit of a business after operating expenses are subtracted from gross revenue but before taxes and interest expenses are deducted.

Absorption Costing

A method of product costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a product.

Product Costs

Costs that are considered to be directly associated with the production of goods or services, including direct materials, direct labor, and manufacturing overhead.