The Used Car Rule Requires Dealers to Give Consumers the Following

question 361

Multiple Choice

The Used Car Rule requires dealers to give consumers the following information except:

• A) a statement about any warranty terms offered with the vehicle
• B) a notice that there is no warranty if that is the case
• C) a warning that oral promises may not be enforceable
• D) a suggestion that the consumer get an independent inspection of the vehicle
• E) all of the other choices are required

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Definitions:

Manufactured

Refers to the state of having been made from raw materials through a process of production in a factory.

Finished Goods Inventory

The stock of completed products ready for sale, held at the end of an accounting period.

Net Income

The total earnings of a company after subtracting all expenses from revenues, including taxes and interest.

Administrative Expenses

Costs associated with the general operation of a business, such as office salaries and utilities.