Strict Liability Is Imposed Only for an Act That Departs

question 24

True/False

Strict liability is imposed only for an act that departs from a reasonable standard of care to cause an injury.

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Definitions:

Bond Payable

A financial instrument representing a loan made by an investor to a borrower, typically a corporate or governmental borrower, to be repaid with interest.

Interest Expense

The expense that an entity faces for borrowing money over a specific duration.

Proceeds

The total amount of money received from a sale or transaction.

Debt-To-Equity Ratio

A financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets, calculated as total liabilities divided by shareholders' equity.