A Business Cannot Commit a Tortious Act Simply by Selling

question 51

True/False

A business cannot commit a tortious act simply by selling a product that causes harm to a buyer.

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Definitions:

Subsidiary Ledger

a detailed ledger that contains the financial transactions of a specific subsidiary account, summarizing its details, and supporting the general ledger.

Control Account

A general ledger account that summarizes the balances of a set of detailed subsidiary ledger accounts.

General Ledger

A complete record of all financial transactions over the life of a company, serving as the primary source of information used to create financial statements.

Due Date

A Due Date is the specific day by which a task, obligation, or payment is required to be completed or submitted.