A ______ May Be Held Vicariously Liable Under a Statute

question 37

Multiple Choice

A ______ may be held vicariously liable under a statute where there is a legislative intent to impose vicarious liability for the act of an employee or corporate agent.

• A) corporation
• B) school
• C) elected official
• D) government

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Definitions:

Book Value

The net value of a company’s assets as recorded on its balance sheet, which is calculated by subtracting total liabilities from total assets.

Indefinite Life

Indefinite life refers to the characteristic of an intangible asset that does not have a foreseeable limit to the period over which it is expected to generate economic benefits for its owner.

Consolidated Balance Sheet

A financial statement showing the aggregated financial position of a parent company and its subsidiaries.

Buildings

Buildings refer to structures that are permanently constructed or erected on land, serving as places for residence, business, or other purposes.