Which Is Not an Example of a Warranty

question 63

Multiple Choice

Which is not an example of a warranty?

• A) Merchantability.
• B) Express.
• C) Puffery.
• D) Fitness for a particular purpose.

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Definitions:

Geographically

Pertaining to or based upon the natural features, population, industries, etc., of regions or places.

Quick Ratio

A liquidity metric indicating a company’s capacity to meet short-term obligations with its most liquid assets without selling inventory.

Common Size Statements

Financial statements that present all line items as percentages of a common base figure rather than in absolute numbers, facilitating comparison across periods and companies.

Statement of Comprehensive Income

A financial statement that includes all changes in equity not resulting from interactions with shareholders, in addition to traditional net income.