Examlex
Which of the following theories have been used to explain voluntary disclosure in the annual report?
Implied Warranty of Merchantability
An implicit guarantee that a product will meet a minimum level of quality and functionality as expected for goods of its kind.
Implied Warranty of Fitness
An assurance, not explicitly stated, that a product will meet a buyer's needs for a particular purpose.
Express Warranty
An explicit promise made by a seller regarding the quality, condition, or performance of the goods being sold.
New England Seafood Chowder
A traditional creamy soup from the New England region made with seafood like clams and fish, potatoes, onions, and celery.
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