Parents Are Responsible for Their Children's Actions in Which of the Following

question 17

Multiple Choice

Parents are responsible for their children's actions in which of the following situations?

• A) Where the child enters into a contract for a new stereo
• B) Where the child carelessly breaks a window in a neighbour's house
• C) Where a child purchases a needed new jacket
• D) Where an infant borrows money for college tuition
• E) Where an infant was acting as agent for the parents

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Definitions:

Individual Accounts

Financial accounts that are owned by a single individual, as opposed to joint accounts owned by multiple parties.

Standard Account Forms

Preset document templates for financial transactions and accounts record-keeping.

New Balance

The updated amount in an account following recent transactions or adjustments.

Transposition

An error in which the order of the digits is changed, such as writing $542 as $452 or $524.