What is forensic accounting? How does the practice of forensic accountants compare to both the financial statement audit and fraud audit? Please use scholarly journal articles and/or trade journals to help support your
reasoning
Answers
Forensic accounting is a specialized field that combines accounting, investigative, and legal skills to analyze financial information for legal purposes.
It involves the identification, interpretation, and presentation of financial evidence in legal proceedings. Forensic accountants are trained to detect and prevent financial fraud, as well as provide litigation support and expert testimony.
Comparing the practice of forensic accountants to financial statement audits, there are a few key differences. While both involve examining financial records, financial statement audits are primarily focused on providing an opinion on the fairness of the financial statements. Auditors assess whether the financial statements are presented in accordance with generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS).
On the other hand, forensic accountants go beyond the scope of a financial statement audit. They are more concerned with investigating potential fraudulent activities, such as embezzlement or money laundering. Forensic accountants employ specialized techniques to identify red flags, anomalies, or suspicious transactions within financial records.
In terms of fraud audits, forensic accountants play a significant role. Fraud audits are proactive measures taken by organizations to identify and prevent fraud. They are conducted to assess the effectiveness of internal controls and detect any fraudulent activities. Forensic accountants provide expertise in investigating potential fraud and gathering evidence, which can then be used to prosecute wrongdoers.
Scholarly journal articles and trade journals can provide additional insight and support to the reasoning above. They may discuss specific case studies, methodologies, or real-life examples of how forensic accounting differs from financial statement audits and fraud audits. These sources can help demonstrate the practical application and value of forensic accounting in the legal and business contexts.
Know more about Forensic accounting here:
https://brainly.com/question/33558552
#SPJ11
Related Questions
True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand.
True false question.
True
False
Answers
Answer:
TRUE
Explanation:
I think that answer
If supply increases by "x" and demand increases by "y" and
x>y, will with equilibrium interest rate increase, decrease, or
remain constant?
This is in the context of mortgages. (Fixed Mortgage Rate
Answers
If the supply of mortgages increases more than the increase in demand, the equilibrium interest rate for fixed-rate mortgages is likely to decrease.
In the context of mortgages, the interest rate is determined by the equilibrium between the supply of available mortgages and the demand for them. When the supply of mortgages increases by "x" and the demand increases by "y," with "x" being greater than "y," it implies that the increase in supply surpasses the increase in demand.
When there is an excess supply of mortgages, lenders may lower the interest rates to attract borrowers and stimulate demand. This increased competition among lenders can lead to a downward pressure on interest rates. As a result, the equilibrium interest rate for fixed-rate mortgages is likely to decrease.
It is important to note that other factors, such as the overall economic conditions, monetary policy, and market dynamics, can also influence mortgage interest rates. However, in the specific scenario described, where supply increases by a larger margin than demand, it is reasonable to expect a decrease in the equilibrium interest rate for fixed-rate mortgages.
Learn more about equilibrium here:
https://brainly.com/question/27578385
#SPJ11
Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?
Answers
Answer:
it depends on the measures taken to ensure that economy is stable.
Answer:
1. it is difficult to say since contractionary periods have varying lengths in different business cycles.
2. shock
3. high unemployment
4. two
5. expansion stage of the business cycle
Explanation:
just took it
strips (separate trading of registered interest and principal securities) are also called interest-based securities. zero-coupon securities. leveraged securities. covenant securities.
Answers
Strips are also called zero-coupon securities. Strips, which stands for Separate Trading of Registered Interest and Principal Securities, are a type of financial instrument that represents the separation of the interest and principal components of a bond.
They are created by financial institutions and sold as individual securities, each representing a specific portion of the bond's cash flows.
Strips, also known as zero-coupon securities, are created by separating the interest payments and the principal repayment of a bond into separate securities. The interest payments are sold as individual securities, while the principal repayment is sold as a separate security. These individual securities are known as strips or zero-coupon securities because they do not pay periodic interest like traditional bonds. Instead, they are sold at a discount to their face value and provide a return by accruing value over time.
The term "interest-based securities" is not commonly used to refer to strips. While strips do represent the separation of interest payments from the principal, the more commonly used term for this type of security is zero-coupon securities. This is because the individual strips do not pay periodic interest but rather provide a return through the difference between the purchase price and the face value of the security.
On the other hand, the terms "leveraged securities" and "covenant securities" do not accurately describe strips. Leveraged securities typically refer to securities that use borrowed funds to amplify investment returns, while covenant securities are bonds that come with specific terms and conditions regarding issuer obligations and investor rights.
In summary, strips, or Separate Trading of Registered Interest and Principal Securities, are commonly known as zero-coupon securities. This term accurately describes their nature as securities that represent the separation of interest and principal payments from a bond.
The complete question is here:
BANCA Y CONDICIONES ECONOMIC STRIPS (Separate Trading Of Registered Interest And Principal Securities) Are Also Called
interest-based securities. zero-coupon securities. leveraged securities. covenant securities.To learn more about strips, click here: brainly.com/question/30019727
#SPJ11
Which of the following is an example of sustainable farming
Answers
Sustainable farming focuses on producing long-term crops and livestock, while also having minimal effects on the environment.
principles of auditing & other assurance services 22nd edition solutions manual
Answers
Auditing is the process of examining and evaluating financial records and other evidence to ensure that they are accurate and reliable.
Auditors use a variety of techniques and procedures to gather information and test the accuracy of financial statements, and they may also use specialized software and other tools to help them in their work
Other assurance services include internal auditing, which involves assessing the effectiveness of an organization's internal controls and procedures, and external auditing, which involves examining an organization's financial statements and other records to determine if they are accurate and complete.
Assurance services are important because they help organizations ensure the accuracy and reliability of their financial statements and other important information. This can help to protect the interests of stakeholders, such as shareholders and creditors, and can also help organizations to make informed decisions about their operations and future plans.
Learn more about Auditing Visit: brainly.com/question/7890421
#SPJ4
Correct Question:
Explain about principles of auditing & other assurance services for 22nd edition solutions manual.
mcbride and associates employs two professional appraisers, each having a different specialty. debbie specializes in commercial appraisals and tara specializes in residential appraisals. the company expects to incur total overhead costs of $208,260 during the year and applies overhead based on annual salary costs. the salaries and billable hours of the two appraisers are estimated to be as follows:
Answers
The Total Billing Rate is $137.4 per hour.
CALCULATION
1. Salary cost used to calculate the predetermined overhead rate:
Total Salary is $273,520 ($181,920 plus $91,600).$410,280 in total overheadPredetermined overhead rate is total overhead divided by total salary cost, or 1.5 or 150% of salary cost ($410,280 divided by $273,520).
2. How to determine the hourly billing rate:
Debbie:
wage is $181,920.Cost of goods sold = $181,920 * 150% = $272,880Cost in total is $454,800.Markup 20% = $454,800 * 20% = $90,960Total amount billed: $545,760Total billing charges divided by the total number of hours worked equals
$545,760 / 2400, or $227.4 per hour.Tara:
$91,600 in pay
Cost of goods sold + 15% (or $91,600) = $137,400$229,000 in totalMarkup 20% = $229,000 * 20% = $45,800Total amount due is $274,800.Total hours billed / Total billing amount is
$274,800 / 2000,
or $137.4 per hour.
To learn more about billing rate, click the links.
https://brainly.com/question/16960853
#SPJ4
Correct and Complete Question - McBride and Associates employs two professional appraisers, each having a different specialty. Debbie specializes in commercial appraisals and Tara specializes in residential appraisals. The company expects to incur total overhead costs of $410,280 during the year and applies overhead based on annual salary costs. The salaries and billable hours of the two appraisers are estimated to be as follows Debbie Annual Salary Billable Hours $181,920 $91,600 2,400 2,000 The accountant for McBride and Associates is computing the hourly rate that should be used to charge clients for Debbie and Tara's services. The hourly billing rate should be set to cover the total cost of services (salary plus overhead) plus a 20 percent markup. Required 1. Compute the predetermined overhead rate. Predetermined Overhead Rate % of Salary Cost 2. Compute the hourly billing rate for Debbie and Tara. (Do not round your intermediate calculations, and round your final answers to 2 decimal places.) Debbie Tara Billing Rate
Introduce the term of notice in two sentence
Answers
(Notice as a verb) While investigating the scene of the crime, the detective *noticed* fingerprints on the glass window.
(Notice as a noun) A final notice was given to the disobedient boy after which he would be expelled from the school.
What is the rate of return on a bond with a coupon of $55 that was purchased for $900 and sold one year later for $950? A) 5.56% B) 6.11% C) 11.67% D) 12.43%
Answers
The rate of return on a bond with a coupon of $55 that was purchased for $900 and sold one year later for $950 is (c) 11.67%
To calculate a bond's rate of return, we must consider both the coupon payments received and the capital gain or loss on the sale of the bond.
In this case, the bond has a coupon of $55, which represents a regular interest payment. The bond was purchased for $900 and sold a year later for $950.
First, let's calculate the total coupon payment received over the holding period. Since the coupon is $55 per year, the total coupon payment for the one-year holding period is $55.
Next, let's calculate the capital gain or loss from the sale of the bond. The bond was purchased for $900 and sold for $950, resulting in a capital gain of $950 - $900 = $50.
Now let's calculate the bond's total return, which is the sum of the coupon payment and the capital gain or loss, divided by the initial investment:
Total return = (coupon payment + capital gain or loss) / initial investment
Total return = ($55 + $50) / $900
Total return = $105 / $900
Total return = 0.1167 (rounded to four decimal places)
Finally, to express the rate of return as a percentage, we multiply the total return by 100:
Return = 0.1167 * 100
return = 11.67%
The rate of return on the bond is therefore 11.67% .
For more such questions on bond ,
https://brainly.com/question/25965295
#SPJ11
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
Read more about net income here:
https://brainly.com/question/28390284
#SPJ1
With the review of the above case, identify and briefly present four legal cases of your choice grounded or demonstrating the three characteristics of a lease
Answers
The three characteristics of a lease include the transfer of the right of possession of the property from the landlord to the tenant, the tenant's obligation to pay rent to the landlord, and the duration of the lease agreement. Below are four legal cases that demonstrate these characteristics:
1. Black v. Mile High Dairy, Inc.In this case, Black and Mile High Dairy entered into a lease agreement that provided Black with exclusive use of a barn, corral, and a portion of the land. The agreement also stipulated the rental amount and duration of the lease. The court upheld the lease agreement, indicating that it demonstrated the three characteristics of a lease.
2. DuBose v. GreenhawIn DuBose v. Greenhaw, the court determined that a tenant who remained on the premises after the expiration of the lease became a tenant at will. The court held that the tenant's obligation to pay rent continued until either party terminated the lease. This case shows that the duration of the lease is an essential characteristic of a lease agreement.
3. Plantz v. TorelliIn Plantz v. Torelli, the landlord and tenant entered into an oral lease agreement for a term of one year. The tenant was required to pay rent and maintain the property. The court ruled that an oral lease agreement met the three characteristics of a lease, including the transfer of possession, the tenant's obligation to pay rent, and the duration of the lease.
To know more about characteristics visit:
brainly.com/question/31108192
#SPJ11
What is a negative externality
Answers
Answer:
exists when a production or consumption of a product results in a coast of third party
For economics class the answer is : Negative externalities occur when the social cost of a good or service is higher than the private cost.
:)
What would most likely happen if the value of the U.S. dollar fell?
A. Exports would become more expensive.
B. The United States would develop a trade surplus.
c. Imports would become more expensive.
D. The United States would develop a trade deficit.
Answers
Answer:
C
Explanation:
I just did it and got it right :))
If the value of the US dollar fell the imports would become more and more expensive Option(c) is correct.
What happens when US dollar fells?When the value of US dollar fells it decline the purchasing power internationally which eventually move or translate to the consumer level.
A weak dollar will always increase the cost for importing the oil which lead to the increase in the oil prices so if US dollar fells the value or the amount of inflation will relatively be highly expensive.
Therefore Option(c) is correct.
Learn more about US dollar here:
brainly.com/question/15169469
#SPJ5
If net sales are $600,000 and gross profit is $412,800, what is the gross profit rate?.
Answers
If net sales are $600,000 and gross profit is $412,800, the gross profit rate is 68.8%.
Gross Profit: A company's gross profit is calculated by deducting its entire sales from its total cost of products sold. All products sold by the business are included in the overall sales. All of the variable costs related to sales are added together to form the overall cost of the products sold.
How can I determine my gross profit?
Cost of goods sold (COGS) is subtracted from total revenue to determine gross profit. Typically, only variable expenses are taken into account when determining gross profit from COGS. Variable expenses are those that are directly related to output (like material and shipping costs).
What is a gross profit, exactly?
Gross profit, often known as gross income, is calculated by deducting a company's cost of goods sold from its sales (COGS). It is frequently used to assess how effectively a business is controlling labor and resources throughout production.
To learn more about Gross Profit, visit the following link:
https://brainly.com/question/942181
#SPJ4
Most companies pay current liabilities
Answers
Most companies pay current liabilities within one year.
What is Current liabilities ?Current liabilities serves as the debt that company has incurred that are due to be paid to creditors within one year.
Examples of current liabilities are:
accounts payable short-term debtdividends notes payableLearn more about current liabilities at
https://brainly.com/question/23086411
#SPJ1
explain the difference between point elasticity and arc elasticity. what problem can arise in the calculation of the latter, and how is it usually dealt with? in actual business situations, would you expect arc elasticity to be the more useful concept? why or why not?
Answers
Point elasticity measures elasticity at finite points on the demand curve. Arc elasticity measures the elasticity at the midpoint of the arc between two points on the demand curve.
In economics, a demand curve is a graph that shows the relationship between the price of a particular commodity and the quantity of that commodity demanded at that price. A demand curve can be used for the relationship between price and quantity for an individual consumer or for all consumers in a given market.
The demand curve is represented by a line graph called a demand plan, with price on the vertical axis (or Y-axis) and quantity of goods sold on the horizontal axis (or X-axis).
Demand is an economic concept that refers to consumers' desire to purchase goods and services and their willingness to pay a particular price for them. When the price of a good or service increases, the quantity demanded tends to decrease.
Learn more about demand curve https://brainly.com/question/1139186
#SPJ4
five competing brokerage firms in the same area agreed to cooperate in setting a standard commission rate for the area. this makes them guilty of a per se antitrust violation. what is a per se antitrust violation?
Answers
Per se antitrust violation is the one in which no intent needs to be proven to establish a violation has occurred.
What is Per se violation of law?Per se violation of law refers to the act which is in of itself an offence against the law, without room for debate. Per Se is a Latin term meaning “in of itself.”
According to the U.S law, the term illegal per se refers to the act that is inherently illegal. Per se violations of the Sherman Act generally include price fixing, bid-rigging, territorial allocation agreements etc.
Basically, per se violation requires no further inquiry of those individuals who engaged in the practice.
Learn more about Per se violation here:-
https://brainly.com/question/14837041
#SPJ4
States usually require employers to purchase ________ insurance from private insurance companies or state funds to cover workers' compensation claims.
Answers
States usually require employers to purchase Workers' compensation insurance from private insurance companies or state funds to cover workers' compensation claims.
What Is Workers' Compensation Insurance?Employers are required by law to take reasonable precautions to ensure worker safety. Nevertheless, mishaps do occur. Worker's compensation insurance offers protection if this occurs.Worker's compensation insurance has two functions: it ensures that injured employees receive medical attention and reimbursement for a portion of the income they lose while they are unable to return to work, and it often shields businesses from lawsuits brought by employees hurt at work.Whether or not the accident was the fault of the worker, they are entitled to payments. Workers compensation, or "workers comp," offers death payments for the worker's dependents in the event that they pass away while on the job.To learn more about Workers' Compensation Insurance, refer to the following link:
https://brainly.com/question/28108147
#SPJ4
hat is a monopoly?
A monopoly is
A.
a firm in a competitive market with many other sellers.
B.
a firm in a market with a small number of independent firms that compete.
C.
a firm that is the only seller of a good or service that does not have a close substitute.
D.
a firm in a market with other firms that sell similar but not identical products.
E.
a firm that is the only buyer of a factor of production.
Answers
Answer:
I believe the answer that you're looking for is D
Explanation:
a company buys a fixed asset on january 1, 2010 for $40,000. the accumulated depreciation for three years is $10,000. what will be the book value of the asset on december 31, 2012? the asset is sold on december 31, 2012 for $27,500. will the company make a profit from this disposal?
Answers
The book value of an asset is calculated by subtracting the accumulated depreciation from the initial cost of the asset. In this case, the fixed asset was purchased for $40,000 on January 1, 2010, and the accumulated depreciation for three years is $10,000. To find the book value on December 31, 2012, we need to subtract the accumulated depreciation from the initial cost.
Book value on December 31, 2012 = Initial cost - Accumulated depreciation
Book value on December 31, 2012 = $40,000 - $10,000
Book value on December 31, 2012 = $30,000
The asset was sold on December 31, 2012, for $27,500. To determine if the company made a profit, we compare the selling price with the book value.
Profit from disposal = Selling price - Book value
Profit from disposal = $27,500 - $30,000
Profit from disposal = -$2,500
Since the result is negative (-$2,500), it means the company did not make a profit from this disposal. Instead, they incurred a loss of $2,500.
to know about book value visit:
https://brainly.com/question/13334229
#SPJ11
1. The apartment was so cool, but there is no bus stop within miles and I don't have a car. Rent
Not rent
2. The renting agent says I have to rent for at least one year. But I'm not sure how many months I'll be in town.
Rent
Not rent
3. I'm not sure how many months I'll be in town. The renting agent says I can leave with 30 days notice.
Rent
Not rent
4. It fits my budget, and I can get to school and work easily.
Rent
Not rent
5. The apartment is great! Bigger bath than I have at home. Close to work! Rent is reasonable! On the "down side," I like cranking my tunes, but the walls are thin and this apartment is loaded with retirees. Plus, they don't allow pets, and I'm thinking about getting a pet boa constrictor.
Rent
Not rent
6. I did my homework on the landlord and found out he has a lot of complaints against him from former renters. He never repairs problems in apartments and never gives deposits back without a fight.
Answers
The apartment was so cool, but there is no bus stop within miles and I don't have a car. This was the based on the not rent. Thus, option (b) is correct.
The renting agent says I have to rent for at least one year. But I'm not sure how many months I'll be in town. This was the based on the rent. Thus, option (a) is correct.
I'm not sure how many months I'll be in town. The renting agent says I can leave with 30 days notice. This was the based on the rent. Thus, option (a) is correct.
What is rent?The term rent refers to the based on the deal with the landlord and tenant's. The landlord was the received the payment on the behalf of the give the property was the used.
It fits my budget, and I can get to school and work easily. This was the based on the rent.
The apartment is great! A bigger bath than I have at home. This was the based on the rent.
I did my homework on the landlord and found out he has a lot of complaints against him from former renters. This was the based on the not rent.
As a result, the significance of the sentence are rent or not rent are the aforementioned.
Learn more about on rent, here:
https://brainly.com/question/26268428
#SPJ1
A finance question that I need help with.
Answers
Which of the following are considered to be popular culinary tourism experiences? a. Food Tours and Cooking Classes b. Wine Tasting and Brewery Tours c. Producer/grower/manufacturer visits and Farmer's Markets d. All of the above
Answers
The correct answer is d. All of the above. All of the above are considered to be popular culinary tourism experiences. Culinary tourism experiences refer to travel activities that involve food and drink.
It’s an opportunity to taste and learn about different local cuisines. There are several culinary tourism experiences that are gaining popularity worldwide, which include food tours and cooking classes, wine tasting and brewery tours, producer/grower/manufacturer visits, and farmer's markets.Food tours and cooking classes: It is one of the most popular culinary tourism experiences. Visitors get a chance to try different cuisines and explore new places. This experience provides a hands-on opportunity to learn about local culinary traditions. Wine tasting and brewery tours: Wine tasting and brewery tours are a unique experience that provides insights into the local wine and beer-making process. Visitors get a chance to taste different wine and beer varieties and learn about the history and traditions behind them. Producer/grower/manufacturer visits: Visitors get to experience the food industry behind-the-scenes and learn about how food is produced, grown, and manufactured. Farmer's markets: Farmer's markets are the perfect place to explore the local food scene. Visitors get to taste and purchase fresh local produce and learn about different culinary traditions.
Learn more about culinary tourism here:-
https://brainly.com/question/31861967
#SPJ11
a bond sells for $974.05 and has a coupon rate of 7.20 percent. if the bond has 18 years until maturity, what is the yield to maturity of the bond? assume semiannual compounding
Answers
The yield to maturity of the bond is 7.44%.
To find the yield to maturity of the bond, we can use the following formula:
YTM = (C + (F - P) / n) / ((F + P) / 2)
Where:
YTM = Yield to maturity
C = Annual coupon payment
F = Face value of the bond
P = Price of the bond
n = Number of years until maturity
Given:
C = 7.20% of $1,000 = $72
F = $1,000
P = $974.05
n = 18
Plugging in the given values into the formula, we get:
YTM = ($72 + ($1,000 - $974.05) / 18) / (($1,000 + $974.05) / 2)
YTM = ($72 + $25.95 / 18) / ($1,974.05 / 2)
YTM = ($72 + $1.44) / $987.03
YTM = $73.44 / $987.03
YTM = 0.0744
Therefore, the yield to maturity of the bond is 7.44%.
To know more about YTM refer here:
brainly.com/question/15470557#
#SPJ11
Which Annotation tool provides the ability to convert the mouse icon when giving a presentation to better focus the
audience attention?
Arrow
O Ink Color
O Eraser
O Laser Pointer
Answers
Answer: I think it’s laser pointer. I’m taking the test right now.
Explanation:
Answer:
It's D laser pointer
Explanation:
in what section of the stockholders' equity portion of the balance sheet can preferred stock, common stock, and additional paid-in capital be found? select one: a. earned capital b. treasury stock c. contributed capital d. retained earnings
Answers
Preferred stock, common stock, and additional paid-in capital can be found in the contributed capital section of the stockholders' equity portion of the balance sheet.
This section represents the amount of capital that the company has raised through issuing stocks to investors. Preferred stock represents a class of stock that has preferential rights over common stock, while common stock represents ownership in the company and typically has voting rights. Additional paid-in capital represents the amount of money received from investors that exceeds the par value of the stock issued. The other sections of the stockholders' equity portion of the balance sheet include earned capital, which represents profits retained by the company, treasury stock, which is the company's own stock that has been repurchased, and retained earnings, which represents the accumulated profits earned by the company that have not been distributed to shareholders as dividends.
To learn more about balance sheet, visit:
https://brainly.com/question/32166203
#SPJ11
ahmed, a lawyer, sold his car to carlos. has an implied warranty of merchantability been created by this transaction?
Answers
In general, an implied warranty of merchantability is a legal concept that refers to an implied promise by a seller that the goods being sold are fit for their intended purpose and are of reasonable quality. This warranty arises automatically in certain transactions, such as the sale of goods by a merchant, and cannot be disclaimed or waived by the seller.
In the case of Ahmed selling his car to Carlos, whether an implied warranty of merchantability has been created depends on several factors. First, it would depend on whether Ahmed is considered a "merchant" for the purposes of the transaction. If Ahmed is a car dealer or regularly sells cars as part of his business, then he would likely be considered a merchant and an implied warranty of merchantability would arise. However, if Ahmed is not a car dealer and is simply selling his personal car to Carlos, then he would not be considered a merchant and an implied warranty of merchantability may not arise. In this case, Carlos would be buying the car "as is" and would assume all risks associated with the car's condition.
It is worth noting that some states have laws that create an implied warranty of merchantability even in private sales of goods, including cars. Therefore, the specific laws of the state where the transaction took place would also be relevant in determining whether an implied warranty of merchantability exists. In summary, whether an implied warranty of merchantability has been created in the sale of Ahmed's car to Carlos depends on several factors, including whether Ahmed is a merchant and the specific laws of the state where the transaction took place.
To know more about merchantability visit:-
https://brainly.com/question/30724112
#SPJ11
how does credit utilization affect your credit score?
Answers
Define direct advertising
Answers
Answer:
Explanation:
Direct marketing is a form of communicating an offer, where organizations communicate directly to a pre-selected customer and supply a method for a direct response. Among practitioners, it is also known as direct response marketing. By contrast, advertising is of a mass-message nature.
Is competition good for business?
Is it good for consumers?
Answers
Answer:
yes and yes
Explanation: