WARRANTY Definition

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WARRANTY is a guarantee given to a buyer from a seller that the goods or services purchased will perform as promised, or a refund will be given, repair will be done at no charge, or an exchange made.

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TIME INTERVAL CONCEPT, in accounting, requires that financial statements be prepared at regular intervals, e.g. monthly, quarterly, annually.

NOT SUFFICIENT FUNDS (NSF) CHECK is a bank check written against an inadequate balance. Also called insufficient-funds check and, informally, a bounced check.

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