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Ruby Is the Owner of Bistro 24, a Popular Eatery

question 44

Multiple Choice

Ruby is the owner of Bistro 24, a popular eatery located in Wilmington. Her chef informed her that the latest shipment of beef, supposedly prime grade, valued at $5,000 is actually choice steak grade valued much less. What UCC warranties have been breached?​

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Definitions:

Gross Profit

The income a business earns after subtracting the expenses related to the production and sale of its goods, or the expenses incurred in delivering its services.

Net Income

The total profit of a company after all expenses, including taxes and costs, have been deducted from total revenue.

Supplies Used

The cost of supplies consumed during a specific period, often recorded as an expense on the income statement.

Expense

Expense is the cost of operations that a company incurs to generate revenue, encompassing everything from rent and salaries to utilities and materials.

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