An Employer Is Vicariously Liable for the Torts of an Employee

question 64

True/False

An employer is vicariously liable for the torts of an employee if committed within the scope of employment.

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Definitions:

Beginning Inventories

Beginning Inventories are the inventory levels of a company at the start of an accounting period, used as a baseline for calculating inventory changes.

Ending Inventories

The total value of all inventory a company has at the end of its accounting period, including products ready for sale and materials for production.

Income Statement Columns

Sections on an income statement, typically including revenues, expenses, and net income, to display financial performance.

Net Loss

The amount by which expenses exceed revenues, indicating a financial loss for a period.