Under the rule of caveat emptor, the producer of a defective product that caused injury to a consumer was:
a. not liable in either tort law or contract law
b. liable in tort law to any injured consumer if negligence by the producer could be shown c. liable in tort law to consumers who bought the good under the rule of strict liability
d. liable in contract to all consumers who used the product under the rule of res ipsa loquitur
e. none of the other choices
e
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In a perpetual inventory system, a transaction that requires two journal entries (or one compound entry) is needed when
a. raw materials are purchased on account. b. goods are sold for either cash or on account. c. goods are finished and transferred out of Work in Process Inventory. d. overhead is applied to Work in Process Inventory.
The opening scenario in Chapter 1, which details the activities of ISIS or ISIL, proves that ________
A) public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics B) public relations has become one of society's most potent forces across the globe C) public relations can be used for the advancement of a global society D) not all organizations know how to use public relations effectively
Identify and describe the four organizational culture values that appear to be important in most cultures.
What will be an ideal response?
Obligations that depend on past events and that are based on future possible events are contingent liabilities
Indicate whether the statement is true or false