ITIL v4: Which is the correct definition of warranty?

OPTIONS

• Assurance that a product or service will meet agreed requirements
• The amount of money spent on a specific activity or resource
• The functionality offered by a product or service to meet a particular need
• The perceived benefits, usefulness, and importance of something

ANSWER

Assurance that a product or service will meet agreed requirements

EXPLANATION

A warranty is an assurance that a product or service will meet agreed requirements.