Barry Buys a Car from a Dealer,which Is Sold to Him

question 54

True/False

Barry buys a car from a dealer,which is sold to him "as is." If the next day,the engine blows up,Barry can sue the dealer for breach of the implied warranty for fitness.

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Definitions:

Cash Disbursements

The outflow of cash for expenses, investments, and other payments during a given period.

Internal Control

Processes designed to provide reasonable assurance regarding the achievement of various objectives such as the effectiveness and efficiency of operations.

Documentation Procedures

The processes and methods for systematically recording and organizing documents and records pertinent to business operations.

Prenumbered Checks

Checks that are sequentially numbered for tracking purposes and to prevent fraud.