SmartTalk, Inc

question 58

Multiple Choice

SmartTalk, Inc., makes and markets cell phones and related accessories. When problems develop with SmartTalk products or sales, the company may be liable in product liability for any of the following except​

• A) ​a manufacturing defect.
• B) ​a design defect.
• C) ​an inadequate warning.
• D) ​an ineffective marketing plan.

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Definitions:

Cash Receipts Journal

A financial journal that tracks all cash inflows or money received by a business, including sales, loans, and investments.

Cash Investment

Financial assets that are highly liquid and can be quickly converted into cash, or the act of placing money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit.

Owner Recorded

The registration of assets, liabilities, or transactions by the owner in the financial records of a business.

Cash Payments Journal

A specialized accounting journal used to record all cash outflows or payments made by a business.