Product Liability Exists If The

question 53

Multiple Choice

Product liability exists if the:

• A) consumer misuses the product.
• B) consumer alters the product before he or she uses it.
• C) product reaches the consumer without substantial change in the condition in which it is sold.
• D) consumer takes the product gratuitously.

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Definitions:

Units

A measurement for quantifying or expressing the amount of a product, service, or resource, used for purchasing, production, or accounting purposes.

Lease Cost

The expense incurred from leasing assets, such as machinery or office space, typically involving periodic payments.

Units

A measure of quantity, often used in production and inventory to describe the number of individual items.

Step-Variable Cost

Costs that change in identifiable steps with changes in activity, increasing with each step rather than continuously.