The word "merchantability" need not be mentioned as a disclaimer of an implied warranty of merchantability
Indicate whether the statement is true or false
false
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Bonds A, B, and C all have a maturity of 15 years and a yield to maturity of 9%. Bond A's price exceeds its par value, Bond B's price equals its par value, and Bond C's price is less than its par value. Which of the following statements is CORRECT?
A. Bond A has the most interest rate risk. B. If the yield to maturity on the three bonds remains constant, the prices of the three bonds will remain the same over the next year. C. If the yield to maturity on each bond increases to 8%, the prices of all three bonds will decline. D. Bond C sells at a premium over its par value. E. If the yield to maturity on each bond decreases to 6%, Bond A will have the largest percentage increase in its price.
An item or event that has a cause-effect relationship with the incurrence of a variable cost is called a
a. mixed cost. b. predictor. c. direct cost. d. cost driver.
All of the following are true about using a predetermined overhead rate to apply overhead except,
A. The rate is prepared at the beginning of the period. B. The rate is used to apply overhead at the end of the accounting period. C. Estimates are used to calculate the rate. D. A single allocation basis may fail to provide useful allocations for all production departments. E. Using this rate provides managers with up-to-date estimates of the costs of their processes during the period.
Which of the following represents a landowner's lowest liability?
a. trespassing children b. licensees c. trespassing adults d. invitees