Merchants Must Issue a Refund Within a Specified Period of Time

question 70

True/False

Merchants must issue a refund within a specified period of time when a consumer cancels an order.​

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Definitions:

Discreetly

Acting in a careful or prudent manner, often to avoid drawing attention or revealing confidential information.

Contingent Liability

A potential obligation that may arise depending on the outcome of a future event.

Recorded

The act of entering financial transactions into the accounting records of a business.

Interest-Bearing Note

A financial instrument that requires the issuer to pay interest in addition to repaying the principal amount at the note's maturity.