Most Products Come with Some Guarantee of Quality

question 21

Multiple Choice

Most products come with some guarantee of quality. Which of the following is usually in written form, created by the seller or manufacturer, and has two forms?

• A) "As-is" warranty
• B) Express warranty
• C) Full warranty
• D) Implied warranty
• E) Limited warranty

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Definitions:

Intensive Audit

A thorough and detailed examination of a company's or organization's accounts, systems, or processes to ensure accuracy and compliance.

North American Free Trade Act (NAFTA)

An agreement that was implemented to remove tariff barriers between the U.S., Canada, and Mexico to encourage economic integration.

Maquiladoras

Factories located in Mexico that import materials and equipment on a duty-free and tariff-free basis for assembly or manufacturing and then re-export the finished product.

Tariffs

Taxes imposed by a government on imported or exported goods to regulate trade, increase revenue, or protect domestic industries.