If the Buyer Relies on the Seller's Skill or Judgment

question 162

Multiple Choice

If the buyer relies on the seller's skill or judgment to select the goods for that purpose, a(n) ____ that the goods are suited for that purpose is created.

• A) explicit warranty
• B) quality warranty
• C) extra warranty
• D) express warranty
• E) none of the other choices are correct

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Definitions:

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting that does not necessarily align with the calendar year.

Transactions

The exchange or transfer of goods, services, or funds between two or more parties.

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements, which may begin and end at any point during the calendar year.