Respondeat Superior

question 9

Multiple Choice

Respondeat superior :

• A) imposes vicarious liability on the principal.
• B) makes a principal liable for the acts of independent contractors.
• C) makes a principal liable for the unauthorized acts of employees committed within the scope of employment.
• D) I mposes vicarious liability on the principal and also  makes a principal liable for the unauthorized acts of employees committed within the scope of employment.

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Definitions:

Unadjusted Trial Balance

A list of all the general ledger accounts along with their balances at a particular date before any adjustments are made for the end-of-period accounting.

Adjustments Columns

Columns in a worksheet used to record entries for the adjustment of accounts at the end of a period, prior to preparing financial statements.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Adjusted Trial Balance

A list of all account titles and balances after adjusting entries have been made, serving as a check before preparing financial statements.