Which of the following statements is true of the Federal Trade Commission (FTC)?
A. It enforces the disclosure provisions of the warranty act and regulations.
B. It does not permit consumers to sue the maker for failure to fulfill the terms of the warranty.
C. It applies to all sellers of a "consumer product" that costs less than $5.
D. It requires a seller of consumer goods to give a written warranty, either full or limited.
Answer: A
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In most cases, which of the following is true about a subsistence economy?
A) It has an agrarian society. B) It is by definition landlocked. C) It has a viable middle class. D) It has high literacy levels. E) It has an advanced economic infrastructure.
A firm classifies liabilities which fall due after the operating cycle, usually greater than one year, as
a. a current liability. b. a long-term asset. c. a noncurrent liability. d. part of shareholders' equity. e. contingent liability.
On December 15, Duncan Services, Inc. collected revenue of $3,000 in advance from a new client, and agreed to provide services to the client for the period of December 15 through January 15 of the following year
Assume that the company records deferred revenues using the alternative treatment, and journalize the adjusting entry recorded on December 31. What will be an ideal response
In the classic case, Palsgraf v. Long Island Railroad (1928) discussed in the text, the court denied Mrs. Palsgraf's claim of negligence on the ground that her injuries were __________, therefore the railroad employee's actions were not __________ of her injuries
a. not foreseeable, proximate cause b. not foreseeable, actual cause c. the actual cause, representative d. not foreseeable, the intentional factor in the claim