Which of the Following Groups Uses Accounting Information Primarily to Insure

question 161

Multiple Choice

Which of the following groups uses accounting information primarily to insure that the entity is operating within prescribed rules?

• A)Taxing authorities
• B)Regulatory agencies
• C)Labor Unions
• D)Management

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Definitions:

Strict Liability

A legal doctrine that holds an individual or entity responsible for damages or harm caused by their actions or products, regardless of fault or intent.

Duty to Warn

The legal obligation to inform others about potential dangers or risks that one is aware of, especially relevant in mental health and product manufacturing fields.

Obvious Risk

A risk that is clear and apparent to a reasonable person, often assuming that individuals will take precautions to avoid harm.

Strict Liability

A legal doctrine that holds a party responsible for damages or harm caused, regardless of negligence or intent.