Natalie, Age 17, Rented a Power Washer and While Using

question 29

True/False

Natalie, age 17, rented a power washer and while using the machine, she negligently damaged it beyond repair. Under the majority view, the rental company can successfully sue Natalie for damages on a tort theory of negligence since it is well settled that minors are liable for their torts.

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Definitions:

Profit Center Income Statement

A financial report that details the revenues, costs, and profits of a distinct unit within a company, focusing on its financial performance.

Controllable Revenues

Revenues earned by a profit center.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the profit gained from an investment by the cost of the investment.

Operating Income

The profit earned from a firm's core business operations, excluding deductions of interest and taxes.