Jack Initiates a Sequence of Events That Results in an Injury

question 15

Multiple Choice

Jack initiates a sequence of events that results in an injury to Kay.According to the New York Court of Appeals in Palsgraf v.Long Island Railroad Co., the question of whether Jack was negligent with respect to Kay depends on whether Kay's injury was reasonably foreseeable to

• A)a bystander.
• B)an insurance company.
• C)Jack.
• D)Kay.

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Definitions:

Cash Collections

The process and amount of cash gathered from receivables or sales transactions over a certain period.

Long Term Assets

Assets that are expected to provide economic benefits to a company over a period longer than one year, like buildings and machinery.

Condensed Balance Sheets

Simplified financial statements presenting only the most essential information about a company's financial position.

Fixed Assets

Long-term tangible assets used in the operation of a business that are not likely to be converted to cash within one year.