Sarina Goes to Marlin's Department Store to Look for Clothes

question 78

Multiple Choice

Sarina goes to Marlin's Department Store to look for clothes. The store happens to be in the process of remodeling, and there is a lot of clutter in the aisle. Sarina trips over the clutter and is injured. Under the Restatement  Second   Torts: Liability for Physical and Emotional Harm , Sarina's status with regard to the store is that of:

• A) licensee.
• B) business visitor.
• C) public invitee.
• D) trespasser.

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Definitions:

Carrying Amount

The book value of assets and liabilities, calculated as the original cost minus any accumulated depreciation, impairment, or amortization.

Fair Value

The expected proceeds from an asset sale or the financial commitment for a liability shift in an orderly engagement among market participants at the time of determining value.

Loss on Acquisition

A financial loss that occurs when the cost to acquire a company or asset exceeds its fair value.

Gain on Sale

The profit realized from the sale of assets that exceeds the book value of those assets.