A Common Defense Known as ________ Arises When a Consumer

question 69

Multiple Choice

A common defense known as ________ arises when a consumer knows that a defect exists but still proceeds unreasonably to make use of the product, creating a situation where the consumer has voluntarily assumed the risk of injury from the defect and thus cannot recover.

• A) consumer risk-taker
• B) comparative fault.
• C) contributory negligence.
• D) known danger defense
• E) assumption of the risk

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Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds over a period, typically reported in financial statements.

Account Receivable

Money owed to a business by its clients for goods or services that have been delivered but not yet paid for.

Schedule Analysis

A method used to examine and interpret the timing and amounts of future cash flows, expenses, or revenues.

Independent Items

Elements or transactions that do not influence or are not influenced by other items within a financial statement or business process.