Which of the Following Creates an Express Warranty

question 16

Multiple Choice

Which of the following creates an express warranty?

• A)"It's a real buy."
• B)"I plan to buy one myself."
• C)"This car is the greatest thing on the road today."
• D)"This car has had only one owner."

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Definitions:

Statement of Retained Earnings

A financial statement that outlines the changes in retained earnings for a specific period, including net income earned or loss and dividends paid.

Stockholders' Equity

Stockholders' Equity is the residual interest in the assets of a corporation after deducting its liabilities, representing the ownership interest of shareholders.

Paid-in Capital

The total amount of money that shareholders have invested in a company through the purchase of its stock, not including the stock's par or face value.

Retained Earnings

Retained earnings are the portion of a company's profits that are kept or retained within the company for reinvestment in business operations, rather than being paid out as dividends to shareholders.