In Regard to Strict Liability in Tort,which of the Following

question 40

Multiple Choice

In regard to strict liability in tort,which of the following is true in the case of a seller of used goods?

• A) Sellers of used goods are not usually held strictly liable for goods sold.
• B) A seller of used goods is strictly liable for defective repairs made by the seller.
• C) A seller of used goods is usually held strictly liable only for inherently dangerous items such as power tools.
• D) A seller of used goods is usually held strictly liable only for inherently dangerous items such as power tools or for defective repairs made by the seller.

Understand the accounting treatment for compensatory stock option plans.

Understand the arguments regarding the expense recognition of employee stock options.

Calculate diluted earnings per share including the impact of convertible securities.

Recognize the effect of stock transactions and treasury stock activities on financial statements.

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Definitions:

Wrongfully Taking

Illegally taking possession of someone else's property without permission, akin to theft or larceny.

Trespass To Land

A legal term referring to the unauthorized entry onto another person's property.

Without Permission

Acting without permission means undertaking actions or accessing property without the consent or authorization of the owner or legal authority.

Tort Against Property

A civil wrong that causes harm to someone's property, including acts of trespass, vandalism, or theft.