To avoid strict product liability, a manufacturer must make a product entirely safe for all uses.
Answer the following statement true (T) or false (F)
False
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Which of the following is true of a statute of repose?
A. The people covered by statutes of repose now can bring suit even if their injury is not discovered within the statutory period. B. It is a significant change in the law for people who are injured by products that cause immediate injury. C. It bars the bringing of a tort-based product liability suit usually after five years from the date the product is first sold to a user. D. The people covered by statutes of repose cannot bring suit if their injury is not discovered within the statutory period.
Match the following definitions and terms by placing the letter that identifies the bestdefinition in the blank space next to the term.____ 1. Source documents____ 2. Debit____ 3. Posting____ 4. Double-entry accounting____ 5. Ledger____ 6. Journal____ 7. Account____ 8. Credit____ 9. T-account____ 10. Trial balanceA. Decrease in an asset, dividend and expense account, and increase in a liability, common stock and revenue account; recorded on the right side of a T-account. B. A record containing all the accounts of a company and their balances. C. An accounting system where each transaction affects and is recorded in at least two accounts; the sum of the debits for each entry must equal the sum of its credits.D. A company's record of each transaction in one place that shows debits and
credits for each transaction.E. An increase in an asset, dividend, and expense account, and decrease in a liability, common stock, and revenue account; recorded on the left side of a T-account.F. A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense item.G. A representation of a ledger account used to understand the effects of transactions.H. A list of accounts and their balances at a point in time.I. The process of transferring journal entry information to the ledger accounts.J. Identify and describe transactions and events entering the accounting system. What will be an ideal response?
________ is a job evaluation method that assigns a number to each job, based on compensable factors that are numerically scaled and weighted.
A. Simple ranking method B. Classification method C. Alternation ranking method D. Point method E. Paired comparison method
Which statement correctly describes teams?
A) Teamwork usually produces lower-quality output than individual work. B) Conflict about issues should be avoided during team meetings because it destroys group cohesiveness. C) Teams should strive for groupthink to enhance cohesiveness. D) The most effective teams require unanimity to make every decision. E) Personality conflicts can damage a team's effectiveness.