The sophisticated user defense:
a. relieves a manufacturer of liability for failing to warn of a product's characteristics or dangers when "the end user does not know of a product's dangers"
b. does not relieve a manufacturer of liability for failing to warn of a product's characteristics or dangers when"the end user knows or reasonably should know of a product's dangers"
c. limits damage awards to less than $1 million when "the end user knows or reasonably should know of a product's dangers"
d. limits damage awards to less than $100,000 when "the end user knows or reasonably should know of a product's dangers"
e. none of the other choices are correct
e
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During the current year, merchandise is sold for $300,000 cash and for $625,000 on account. The cost of merchandise sold is $450,000 . What is the amount of gross profit?
a. $925,000 b. $475,000 c. $175,000 d. $450,000
Luke is playing a video game on a defective disk that melts in his game player, starting a fire that injures his hands. Luke files a suit against Mystic Maze, Inc, the game's maker under the doctrine off strict liability. A significant appli¬cation of this doctrine is in the area of
a. cyber torts. b. intentional torts. c. product liability. d. unintentional torts.
To compute the holding period return on a bond investment, the investor should divide the purchase price of the bond into
A) any increase or decrease in the bond's price. B) the annual coupon payment. C) the bond's yield to maturity. D) coupon payments received plus or minus any change in the bond's price.
The classification of workers as exempt and nonexempt pertains to the provisions of the:
A) Social Security Act. B) Equal Pay Act. C) Fair Labor Standards Act. D) Federal Insurance Contributions Act.