Examlex
Which of the following is the third major step in the accounting cycle?
Implied Warranty
A legal assumption that the goods sold meet certain quality standards, including that they are fit for the standard purposes for which such goods are sold.
Express Warranty
A clearly stated promise or guarantee regarding the condition or performance of a product or service.
Warranty Of Trade Usage
A guarantee implied in a transaction, based on the customary practices and standards in a particular industry.
Volkswagen Of America
is the US subsidiary of the Volkswagen Group, a major German automaker, responsible for the sales, marketing, and service of Volkswagen and Audi vehicles in the United States.
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