Most Products Come with Some Guarantee of Quality

question 58

Multiple Choice

Most products come with some guarantee of quality. This type of warranty covers only certain aspects of the product, such as parts.

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

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Definitions:

Ratio

A ratio is a quantitative relationship between two numbers, showing how many times the first number contains the second or how the two numbers compare.

Bank Reconciliation

The method of aligning the figures in a company's bookkeeping records for a cash account with the equivalent data on a bank statement.

NSF Check

Non-Sufficient Funds Check, a bank check that cannot be honored because the account on which it is drawn does not have enough funds.

Outstanding Checks

Checks that have been written and recorded in the payer's financial records but not yet cleared or cashed by the recipient.