Carrington, Inc

question 33

Multiple Choice

Carrington, Inc.recorded $97,000 in salary expense for January, 2015.Its beginning balance in salaries payable was $3,000 and its ending balance was $4,000.How much was paid in cash for salaries during January, 2015?

• A)$96,000
• B)$97,000
• C)$98,000
• D)$99,000

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Definitions:

Strict Liability

A legal doctrine where a party can be held liable for damages without proof of fault or negligence.

No Fault

A legal term indicating that a claim or case is processed without the necessity to prove negligence or fault by any party involved.

Common Law

The body of law developed from judicial decisions of courts and similar tribunals, serving as precedent for future cases.

Contributory Negligence

A legal defense where the plaintiff's own negligence played a role in causing their damages or injury, potentially reducing the liability of the defendant.