Some Sellers Put Specific Limitations in the Warranty to Limit

question 16

Multiple Choice

Some sellers put specific limitations in the warranty to limit the effectiveness of a warranty. Such a denial or repudiation in an express warranty is known as:

• A) puffing.
• B) product liability.
• C) a warranty.
• D) a disclaimer.

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Definitions:

Sales Invoice

A bill sent to customer(s) reflecting a credit sale.

Gross Method

Gross Method in accounting is a method for recording purchases at the full invoice price without deducting any cash discounts offered.

Periodic Inventory Method

An accounting approach that updates inventory and cost of goods sold at the end of an accounting period based on a physical count.

Merchandise

Goods or products that are bought and sold by businesses in the market.