Hubert bought heavy-duty, sharp hedge clippers to trim the hedges in his yard. In the process of using the clippers, he severely cut his hand. He is now suing the manufacturer because the clippers are unreasonably dangerous. Can he recover? Explain
It is doubtful that Hubert will be able to recover based upon breach of warranty of merchantability or strict liability in tort, unless there is some evidence to show that Hubert's cutting his hand was the result of some defect rather than that the clippers were sharp. He would need to show that something in the design was faulty or that the instructions failed to warn of possible hazards. However, just the fact that the clippers are sharp is not a defect.
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Which of the following transactions would not create a temporary difference?
A. The accrual of bad debt expense. B. The cash collection of interest earned on a municipal bond. C. The cash payment to acquire a three-year insurance policy. D. The accrual of warranty expense.
When introduced in the late 1970s, the VCR created new patterns of consumer behavior. For example, assuming the user could learn to set the timer, he or she could tape programs to watch at a later time
DVD, a playback only video system, was introduced in the late 1990s. DVD discs contain full-length movies with digital sound in a format that resembles conventional music compact discs. Which of the following most accurately describes the respective degree of newness of these two global products? A) The VCR is a discontinuous innovation; the DVD is a dynamically continuous innovation. B) The VCR is a dynamically continuous innovation; the DVD is a discontinuous innovation. C) The VCR and DVD are both dynamically continuous innovations. D) The VCR and DVD are both discontinuous innovations. E) The VCR and DVD are both continuous innovations.
Four purposes or advantages for budgeting involve planning, coordination, performance measurement, and punitive action.
Answer the following statement true (T) or false (F)
Which of the following statements accurately brings out the difference between tangible and intangible resources?
A. Tangible resources take a longer time to build, whereas intangible assets can be built comparatively easily. B. Tangible assets are difficult for competitors to imitate, whereas intangible assets can be easily replicated. C. Tangible resources contribute to a company's competitive advantage, whereas intangible resources have little effect on competitive advantage. D. Tangible assets can be bought on the open market by anyone with the necessary cash, whereas intangible assets cannot be easily purchased.