Revenue Center Performance Reports Are Reports That List Variances

question 13

True/False

Revenue center performance reports are reports that list variances.

---

Definitions:

Merchantability

Implies that a product sold by a merchant is fit for the ordinary purposes for which such goods are used and meets the consumer's expectations.

Express Warranty

A clearly stated assurance or guarantee given by a seller about the condition or quality of a product or service.

Implied Warranty

A legal concept that guarantees a product will perform as widely expected without being explicitly stated in a contract.

Warranty of Title

A guarantee by a seller to a buyer that the seller has the right to transfer ownership and no undisclosed encumbrances exist.