Technician a Says Computer Databases Are Used to Input and Retrieve

question 78

Multiple Choice

Technician A says computer databases are used to input and retrieve customer information for billing, warranty work, and other information. Technician B says that dealerships have access to manufacturer databases for the purpose of accessing warranty information. Who is correct?

• A) Technician A
• B) Technician B
• C) Both A and B
• D) Neither A nor B

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Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds, recognized as a financial charge over the repayment period.

Market Rate

The prevailing price or interest rate available in the marketplace for goods, services, or securities.

Lease of Asset

A contractual agreement where the lessor allows the lessee to use an asset in exchange for periodic payments.

Bargain Purchase Option

A provision in a lease that allows the lessee to purchase the leased asset at the end of the lease term at a price significantly lower than the expected fair market value.