Proximate Cause Exists When the Connection Between an Act and an Injury

question 23

True/False

Proximate cause exists when the connection between an act and an injury is strong enough to justify imposing liability.​

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Definitions:

Periodic Inventory Method

An accounting method where the inventory is physically counted at specific intervals and the cost of goods sold is calculated afterwards.

Merchandise Purchase

Transactions related to buying goods for sale, typically finished goods, in a retail or wholesale setting.

Credit Terms

The conditions under which credit is extended by a seller to a buyer, detailing the repayment period, discount for early payment, and the annual interest rate if applicable.

Periodic Inventory Method

The periodic inventory method is an accounting approach where the inventory value is updated at specific intervals, relying on physical counts to determine cost of goods sold and ending inventory levels.