Which of the Following Are Legal Obligations of a Property

question 27

Multiple Choice

Which of the following are legal obligations of a property owner with respect to an invitee?
I.The property owner must warn an invitee of any unsafe conditions.
II.The property owner must inspect the premises and eliminate any dangerous conditions revealed by the inspection.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Variable

An element, feature, or factor that is liable to change or be changed, often used in the context of experiments, statistics, or mathematics.

Mixed Costs

Costs that contain both a variable- and a fixed-cost element and change in total but not proportionately with changes in the activity level.

Fixed Costs

Expenditures such as rent, salaries, and insurance that are unaffected by changes in production or sales volumes.

Contribution Margin

The amount by which a product's sales price exceeds its total variable costs, indicating the contribution towards covering fixed costs and generating profit.