Final answer:
The statement regarding the requirements of truthful and detailed advertising practices without any misleading guarantees is true. Advertisements must comply with regulatory standards ensuring truthfulness and full disclosure to protect consumers, a concept underscored by the Latin phrase 'Caveat emptor'.
Step-by-step explanation:
When evaluating the statement 'no false or misleading statements', 'must include details', and 'no guarantees, promises of quick cash, and include contingency details', we are assessing advertising practices and statements that are deemed acceptable by regulatory bodies like the Federal Trade Commission. Advertisers must make true claims and not provide false hopes or guarantees that could be considered deceptive. The statement to review is structured in a way to determine the validity of such advertising claims.
To answer the question of whether the statement is true or false, it is true. Advertisements must be truthful and not misleading, include relevant details about the product or service, and should not make guarantees of quick financial return without disclosing the conditions or contingencies that apply.
In terms of reassuring a possible buyer who is faced with imperfect information, sellers can provide comprehensive product details, third-party certifications, customer testimonials, and explicit guarantees or return policies to engender trust. The principle of Caveat emptor — or 'let the buyer beware' — emphasizes the importance of honesty in advertising as consumers are encouraged to scrutinize claims.