23.A merchant makes an implied warranty of merchantability every time he or she sells goods(unless the warranty is excluded). To be merchantable, a good must be: -reasonably fit for its intended purpose -conforming to the buyer’s expectations -accepted by the buyer -all of the above

23.A merchant makes an implied warranty of merchantability every time he or she sells goods(unless the warranty is excluded). To be merchantable, a good must be: -reasonably fit for its intended purpose -conforming to the buyer’s expectations -accepted by the buyer -all of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

23.A merchant makes an implied warranty of merchantability every time he or she sells goods(unless the warranty is excluded). To be merchantable, a good must be:

-reasonably fit for its intended purpose

-conforming to the buyer’s expectations

-accepted by the buyer

-all of the above

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