Company X Has Net Sales Revenue of $436,000,cost of Goods

question 45

Multiple Choice

Company X has net sales revenue of $436,000,cost of goods sold of $343,000,and net income of $3,000.If interest expense is $10,000 and income tax expense is $1,000,the times interest earned ratio is closest to:

• A) 1.4.
• B) 0.33.
• C) 1.3.
• D) 0.40.

Differentiate between the various basis of liability within product liability, including negligence, strict liability, and misrepresentation.

Comprehend the defenses available in product liability suits, such as product misuse and assumptions of risk.

Understand the role of negligence in product liability and the requirement of cause in fact and proximate cause.

Recognize the significance of quality control and the duty to warn in preventing product liability.

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Definitions:

Puncture

The act of making a small hole in something, often for medical reasons such as to draw blood or administer medication.

Surgical

Related to or used for medical operations that involve cutting into the body to treat diseases or injuries.

Mucous Membrane

A layer of epithelial tissue that lines various cavities in the body and covers the surface of internal organs, producing mucus.

Muscular

Relating to or involving the muscles of the body or the physical strength, power, and endurance of muscles.