The Rule of Law Imposing Vicarious Liability on an Innocent

question 2

True/False

The rule of law imposing vicarious liability on an innocent employer for the wrong of an employee is known as the doctrine of respondeat superior.

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Definitions:

Dividends

Payments made by a corporation to its shareholder members, typically in the form of cash or additional shares.

Depreciation Expense

A method to allocate the cost of a tangible asset over its useful life.

Consolidated Income Statement

A financial statement that combines the income statements of a parent company and its subsidiaries, presenting the financial performance of the entire group as a single entity.

Straight Line Amortization

A method of allocating the cost of an intangible asset over its useful life in equal annual amounts.