The Theory of Recovery of Strict Liability Is Based on Which

question 10

Multiple Choice

The theory of recovery of strict liability is based on which of the following?

• A)Contract law
• B)Tort law
• C)Property law
• D)Constitutional law

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Definitions:

Standard Hours

The predetermined amount of time expected to complete a task, job, or project.

Variable Manufacturing Overhead

Costs that vary directly with the level of production output, such as indirect materials and indirect labor that increase as production increases.

Actual Output

The real quantity of goods or services produced by a company during a specific period, as opposed to planned or theoretical output.

Labor Efficiency Variance

The variance between the real hours spent working and the anticipated standard hours, times the standard rate of labor.