In Modern Times,the Basis for Liability in Tort Is

question 39

Multiple Choice

In modern times,the basis for liability in tort is

• A)whether the wrongdoer is able to compensate the victim.
• B)actionable recklessness.
• C)legal carelessness.
• D)criminal wrongdoing.
• E)fault.

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Definitions:

Operating Activities

Activities related to the core business functions of a company, including production, sales, and delivery of services, as reflected in its cash flow.

Accrual Basis

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash transactions occur.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid.

Income Taxes Payable

Liabilities owed to the government for income taxes, not yet paid by the company.