Value Is Created If a Project's

question 10

Multiple Choice

Value is created if a project's

• A)incremental costs exceed incremental benefits.
• B)incremental costs equal incremental benefits.
• C)incremental benefits exceed incremental costs.
• D)none of the above.

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Definitions:

Warranty

An assurance, either express or implied, by one party that the other party can rely on its representations of fact; in sales, a binding promise regarding a product in the event that the product does not meet the manufacturer’s or seller’s promises.

Written Warranty

A documented guarantee provided by a manufacturer or seller, detailing the conditions under which a product can be returned, replaced, or repaired.

Magnuson-Moss Act

A federal law that governs warranties on consumer products to protect buyers from deceptive warranty practices.

Enacted

Formally made into a law or statute.