In Schuchmann v. Air Services Heating and Air Conditioning a home owner bought a heating and A/C unit with a lifetime warranty. After five years the company refused to honor the warranty because it was too expensive. When the consumer sued, the courts held that:
a. the FTC acted against the company on behalf of similarly affected consumers and won warranty enforcement for all such consumers
b. the company proved that its warranty was not "lifetime" as to ordinary maintenance, so the consumer's claim was rejected
c. the company violated the state deceptive practices act and was liable under that
d. the attorney general could sue on behalf of all similarly affected consumers in the state e. none of the other choices
c
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Explain the function of a gatekeeper.
What will be an ideal response?
Neptune Fabrication Plant has provided you with the following information:
The company bases its manufacturing overhead allocation on direct labor hours. What was the unadjusted ending balance in the Manufacturing Overhead account?
A) $20,906 credit balance
B) $20,906 debit balance
C) $800 credit balance
D) $800 debit balance
Although faster transportation is more expensive, a firm receives which benefit as a result of the faster transportation?
A) Fewer rejects B) Higher profit C) Lower inventories D) More warehouses
Which of the following statements is MOST correct regarding beta?
A) Beta for a particular company remains constant over time. B) Even professionals may not agree on the measurement of beta. C) Beta can only be measured properly using daily returns. D) Beta must be calculated using at least 5 years of monthly returns data to be accurate.