There Are No Defenses Available for Strict Liability; It Is

question 47

True/False

There are no defenses available for strict liability; it is imposed absolutely.

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Definitions:

Effective-interest Amortization

A method of amortizing the premium or discount on bonds payable that reflects interest expense on the outstanding balance of the bond over its life.

Issue Price

The price at which a company's shares or bonds are made available for sale when they are first issued to the public.

Book Value

The net value of a company's assets minus its liabilities, indicating the total value of the company’s equity as recorded in the financial statements.