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Cavinder enjoys off-road driving and purchases a new jeep for that purpose.After returning home, he discovers that the jeep is unsuitable for off-road driving.In which of the following circumstances will Cavinder be unable to rely on the implied statutory term requiring goods to be fit for their purpose?
Collectibility
The likelihood or ability of a company to collect payments from customers for goods or services provided, considered when recognizing revenue.
Completed Transaction Method
An accounting method that recognizes revenue and expenses only when a transaction has been completed.
Net Income
Final earnings of a business once all deductions including taxes and expenses are made from the initial revenue.
Premium Wheat
Wheat that surpasses standard quality criteria and may therefore command a higher price on the market.
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