Which of the Following Is True Regarding Express Warranties

question 132

Multiple Choice

Which of the following is true regarding express warranties?

• A)They may be part of a brochure.
• B)They may arise from a salesperson's oral promise.
• C)A sample or model may provide an express warranty.
• D)They may be part of a brochure,they may arise from a salesperson's oral promise,and a sample or model may provide an express warranty.
• E)They may be part of a brochure and they may arise from a salesperson's oral promise,but a sample or model may not provide an express warranty.

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Definitions:

Current Asset

Assets expected to be converted into cash, sold, or consumed either in one year or in the operating cycle of a business, whichever is longer.

Intangible Assets

Non-physical assets that provide economic benefits to their owners, such as patents, copyrights, trademarks, and goodwill.

Balance Sheet

A financial statement that showcases a company's assets, liabilities, and stockholders' equity at a specific point in time.