Fiona works for Open Heart Hospital and lives 10 miles away from her place of work. The hospital has provided her with a car to commute and also pays for its upkeep
If she accidentally injures a person while driving to work in the morning, which of the following would be true?
A) Open Heart Hospital is completely liable for the injury caused.
B) The injured person can sue Open Heart Hospital but can only recover reimbursement for his or her medical expenses due to the injury.
C) Both Fiona and Open Heart Hospital are liable to the injured person.
D) Only Fiona is liable for her negligence.
D
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Which of the following questions would most likely be included in an internal control questionnaire concerning the completeness assertion for purchases?
A. Is the unpaid voucher file periodically reconciled with inventory records by an employee who does not have access to purchase requisitions? B. Is an authorized purchase order required before the receiving department can accept a shipment or the vouchers payable department can record a voucher? C. Are purchase orders, receiving reports, and vouchers prenumbered and periodically accounted for? D. Are purchase requisitions prenumbered and independently matched with vendor invoices?
Which concept below is a process of periodically moving employees from one job to another?
A. job purpose B. job enrichment C. job enlargement D. job rotation
Which of the following statements about variances is false?
a. Ideal standards will rarely, if ever be met. b. Expected standards will usually be met 60-70% of the time. c. Standards that provide for no inefficiency of any kind are called theoretical standards. d. Establishing upper and lower tolerance limits for deviations allows managers to implement the management-by- exception concept.
Last year Simpson Company reported a cost of goods sold of $105,000. Inventories decreased by $10,000 during the year, and accounts payable increased by $25,000. The company uses the direct method to determine the net cash flows from operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be:
A) $140,000. B) $95,000. C) $70,000. D) $80,000.