A Statement That a Particular Warranty Does Not Apply Is

question 34

Multiple Choice

A statement that a particular warranty does not apply is called a(n)

• A)disclaimer.
• B)infringement.
• C)limitation of remedy clause.
• D)voidable title.

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Definitions:

Retained Earnings

The portion of net income left over for the business after it has paid out dividends to its shareholders.

Retained Earnings

The portion of net earnings not paid out as dividends but retained by the company to be reinvested in its core business or to pay debt.

Dividends

Profits distributed to shareholders as a reward for their investment in the company.

Liability Subsections

Refers to the various divisions or categories within liabilities on a balance sheet, detailing different types of obligations a company holds.