Guarantee and Warranty
Directions: In the following items, a pair of words is provided. You are required to select the option that most appropriately describes the meaning of both the words and mark your response on the Answer Sheet accordingly.
- A. Guarantee is an agreement and warranty is a service contract
- B. Guarantee is a business agreement and warranty is a service contract
- C. Guarantee is a promise and warranty is a service contract ✓
- D. Guarantee is acceptance and warranty is a service contract
Correct Answer: C. Guarantee is a promise and warranty is a service contract
Explanation
A guarantee is a formal promise or assurance that certain conditions will be fulfilled, while a warranty is specifically a written guarantee, issued to the purchaser of an article promising to repair or replace it if necessary.
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