Once a Buyer Has Accepted Goods,he Cannot Later Reject Them

question 44

True/False

Once a buyer has accepted goods,he cannot later reject them unless at the time they were accepted,the buyer had reason to believe that the nonconformity would be cured.

---

Definitions:

Limitations

Restrictions or constraints that limit the scope, effectiveness, or action of something.

Cash Payments Journal

A financial journal used in accounting to record all cash payments made by a business, including expenses, purchases, and debt repayments.

Bank Reconciliation

The process of matching and comparing the company's financial records against the bank statements to ensure accuracy.

Cash Balance

The amount of cash or cash equivalents held by an entity at any given time.