A(n) Tort Is a Civil Wrong That Involves Taking Action

question 46

Multiple Choice

A(n) tort is a civil wrong that involves taking action that is so inherently dangerous under the circumstances of its performance that no amount of due care can make it safe.

• A) intentional
• B) statutory
• C) strict liability
• D) negligent

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Definitions:

Maintenance Costs

Expenses incurred in the upkeep of machinery, equipment, and facilities to ensure their efficient and effective operation.

Journal Entries

Records of financial transactions in the double-entry bookkeeping system, noting debits and credits for each transaction.

Work in Process

Inventory representing goods that are in the production process but not yet completed.

Finished Goods

Merchandise ready for retail, having gone through the manufacturing stage.