What Is One of the Two Ways an Express Warranty

question 40

Multiple Choice

What is one of the two ways an express warranty can be viewed?

• A) Warranties which give the buyer a longer time to bring suit.
• B) Warranties which are enforceable because they come from written guarantees.
• C) Warranties which provide a very short time for a buyer to bring a cause of action.
• D) Warranties which protect sellers by limiting situations in which buyers can bring suit.
• E) Warranties which arise out of the UCC, rather than the common law.

---

Definitions:

Internal Management

Refers to the process and activities undertaken by a company's management team to operationalize business strategies and manage daily operations effectively.

Reporting Structure

A hierarchical arrangement of lines of authority, communications, rights and duties of an organization or entity that details how activities such as task allocation, coordination, and supervision are directed towards the achievement of organizational or entity aims.

Representational Faithfulness

The extent to which financial statements accurately reflect the economic phenomena they purport to represent.

Verifiability

A concept in accounting referring to the ability to ensure that different knowledgeable and independent observers can agree that a particular representation of financial information is faithfully depicted.