Debits

question 129

Multiple Choice

Debits

• A)increase both assets and liabilities.
• B)decrease both assets and liabilities.
• C)increase assets and decrease liabilities.
• D)decrease assets and increase liabilities.

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Definitions:

Unreasonably Dangerous

A legal standard used to describe product defects that pose a risk of harm to the consumer or user that is beyond what would be contemplated by the ordinary consumer, with knowledge common to the community.

Strict Liability

A legal standard that holds parties responsible for damages or harm caused by their actions, regardless of fault or intent.

Unreasonably Unsafe

Describes a condition or product that poses a significant risk of harm to people or property beyond what would be considered reasonable.

Doctrine of Unconscionability

A legal principle that contracts with terms that are excessively unfair or oppressive can be found invalid or modified by a court.