A Company Cannot Be a Defendant in a Tort Suit

question 84

True/False

A company cannot be a defendant in a tort suit since a firm is not a natural person.

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Definitions:

Fair Value

The amount one would get from selling an asset or the cost to transfer a liability during a well-structured deal between participants in the market at the time of evaluation.

Profit Margin

A financial metric that evaluates a company's profitability by comparing net income to sales.

Total Asset Turnover

Total asset turnover is a financial ratio that measures a company's efficiency in using its assets to generate sales, calculated as sales divided by total assets.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue; also known as net profit.