Don and His Son,12 Years Old,went on a White-Water Rafting

question 35

Essay

Don and his son,12 years old,went on a white-water rafting trip.On the way to where they would join the rafting company for the half-day trip,they stopped in a grocery and picked up some food for snacks along the way.Don did not notice the back of the receipt that noted that the store was "not responsible for any loss or injury resulting from the purchase of merchandise." At the rafting company,he signed a release for his son and himself that the rafting company was "not responsible for any injuries,whether caused negligently,intentionally,or otherwise by the company." On the rafting trip,Don's son fell off the raft,and the guide then pushed Don off to retrieve his son.Don and his son suffered injuries.They also got sick from some fried pork rinds that they purchased at the grocery.Discuss the recovery for these injuries.

---

Definitions:

Financial Statements

Reports that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.

Indirect Method

A reporting approach used in cash flow statements where net income is adjusted by changes in non-cash accounts to determine cash flow from operating activities.

Net Cash Flow

The difference between a company's cash inflows and outflows within a defined period.

Operating Activities

Part of cash flow that represents the revenues and expenses directly related to the core business operations.