ValuRich Tools,Inc

question 47

Multiple Choice

ValuRich Tools,Inc.,sells tools,tool parts,and related supplies under "full" warranties.Under the Magnuson-Moss Warranty Act,this means that ValuRich must provide

• A)a choice between a refund or replacement if a product cannot be fixed and repair or replacement of defective parts.
• B)neither a choice of a refund or replacement,or repair of defective parts.
• C)only a choice of a refund or replacement if a product cannot be fixed.
• D)only repair or replacement of defective parts.

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Definitions:

Original Maturity

This refers to the duration from the issuance of a bond or other fixed-income security until its due date.

Default Risk

The risk that a borrower fails to make the required payments on their debt obligation.

Canada Call Feature

A special feature on certain bonds that allows the issuer to redeem the bond before maturity in the Canadian market.

Maturity

Maturity indicates the date on which the principal amount of a financial instrument is due to be paid back.