One of the requirements for a suit based on strict liability is a failure to exercise due care.
Answer the following statement true (T) or false (F)
False
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Redbird Company uses the indirect method to prepare its statement of cash flows. Using the following information, complete the worksheet for the year ended December 31, 2018.
- Net Income for the year ended December 31, 2018 was $49,000
- Depreciation expense for 2018 was $12,000
- During 2018, plant assets with a book value of $10,000 (cost $10,000 and accumulated depreciation $0) were sold for $14,000
- Plant assets were acquired for $52,000 cash
- Issued common stock for $28,000
- Issued long-term notes payable for $34,000
- Repaid long-term notes payable for $40,000
- Purchased treasury stock for 3,000
- Paid dividends of $10,000
Lemon laws are generally understood to be laws that:
a. apply to the safety of food additives for fruits and vegetables. b. are federal legislation designed specifically to protect state consumers from fraudulent car manufacturers. c. are state laws that attempt to provide new car purchasers with rights that are similar to full warranties under the Magnuson-Moss Act. d. are Interstate Compacts to uniformly deal with lemon cars.
Nonny agrees to buy a unique collection of Olympics memorabilia for $7,000 from Piper and sends $1,500 as a down payment. When Nonny sends Piper the rest of the price, she refuses to ship the collection. Nonny should seek
a. damages. b. quasi-contractual recovery. c. rescission. d. specific performance.
Among ethnic minorities in the U.S., the birthrate is lower than the overall population.
Answer the following statement true (T) or false (F)