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 was losing money on the warranty so, to prevent bankruptcy, could limit its liability to five year's coverage
d. the attorney general could sue on behalf of all similarly affected consumers in the state e. none of the other choices
e
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The trend of the world economy toward becoming a more interdependent system is called
A. international cooperation. B. globalization. C. world partnership. D. economic defragmentation. E. international unification.
In order to expand its business, the management of Hampton, Inc. issued a long-term notes payable for $50,000 on January 1, 2018. The note will be paid over a 10-year period with equal annual principal payments, December 31 of each year. The annual interest rate is 12%.
Prepare the journal entry for the first installment payment. Omit explanation.
How does the text classify major and minor objections?
What will be an ideal response?
Market-timing strategies try to exploit the investment cycle
Indicate whether the statement is true or false.