Which of the Following Is Not an Element That Must

question 8

Multiple Choice

Which of the following is not an element that must be established in order to prove negligent misrepresentation?

• A)The representor owed a duty of care to the representee.
• B)The representor breached their duty of care.
• C)The misrepresentation was made without belief in its truth.
• D)The breach of duty by the representor caused the loss incurred by the representee.

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Definitions:

Chart of Accounts

The Chart of Accounts is an organized list of all accounts in the general ledger of a company, used for recording transactions and building financial statements, categorized by assets, liabilities, equity, revenues, and expenses.

Merchandising Business

A type of business that purchases finished products and sells them to consumers, making a profit from the markup.

Service Business

A company that provides intangible products, such as expertise or labor, rather than physical goods.

Selling Expenses

Costs incurred directly and indirectly from selling products or services, such as advertising, commissions, and shipping costs.