Suppose You Are a Server at a Restaurant/bar

question 7

Multiple Choice

Suppose you are a server at a restaurant/bar. Based on dramshop laws, which statement best describes how to perform your job to reduce your liability should a customer cause harm or injury to another after drinking alcohol at your establishment?

• A) Check identification for possible underage customers
• B) Avoid working during happy hour
• C) Provide alcohol to visibly agitated customers who demand it in order to prevent them from causing injury to you or others
• D) Check identification, cut off visibly intoxicated customers, and see that they get home safely

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Definitions:

Probable Loss

An estimated loss from a contingent liability that is likely to occur and can be reasonably estimated.

Fair Value Option

An accounting approach allowing companies to choose to measure certain financial assets and liabilities at fair market prices.

Reporting Requirements

These refer to the specific guidelines or regulations that entities must follow when preparing and presenting their financial and operational information to regulatory bodies or the public.

Financial Statement Disclosures

Refers to the requirement for organizations to provide additional context, data, and explanations within their financial statements, helping stakeholders understand the financial health and decisions of the entity.