Examlex
The Allowance for Doubtful Accounts account is a temporary account,which is closed to Retained Earnings at the end of the accounting period.
Warranties
Warranties are guarantees made by a seller that the goods or services offered meet certain quality standards and assurances about the product or service's condition.
Implied Warranty
A legal concept that guarantees a product will meet basic standards of performance and quality without being explicitly stated.
Warranty Of Fitness
An assurance that a product will meet a buyer's specified purpose or needs, often implied in a sale unless specifically excluded.
Implied Warranty
A legally assumed guarantee that a product will meet certain quality and reliability standards.
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