A common problem in cases of express warranty is being able to separate statements that create express warranties from statements that do not. Discuss what type of statements create an express warranty and four indications that a statement is likely to create an express warranty
Any affirmation of fact, or any promise, can create an express warranty. An affirmation of fact is a statement about the nature or the quality of the goods. A statement indicating the seller's opinion or a statement of sales puffery does not create a warranty. A statement is more likely to be an affirmation of fact if: (a) it is specific and can be proven true or false; (b) it is written; (c) defects are not obvious; and (d) the seller has greater expertise than the buyer.
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A dual-purpose test:
A. is a procedure completed by both the internal and external auditors. B. is useful to both the entity and the auditor. C. is both a substantive test of transactions and a test of controls. D. simultaneously tests debits and credits.
Which one of the following is an example of firms going global due to economies of scale?
a. The company’s home base taxes, wages and infrastructure costs would be cheaper in a third world country b. The company is seeking to create innovations in existing products and learn new ways of doing things c. The company has saturated the market with its products and needs to open new markets to maintain its growth d. The company is too tightly regulated by environmental and health and safety laws
You have started an architecture company and are targeting several companies that you feel might be interested in your services. Should you e-mail copies of your portfolio to these companies?
A) Yes. B) No.
The Constitution sets out the authority and the limits of the branches of the government. The term checks and balances means that
A. Congress writes checks and the other branches balance the budget. B. each branch has some power to limit the actions of the others. C. the courts balance their authority to the other branches' checklists. D. the president "checks" the courts, which "balance" the laws.