Explain the Difference Between Strict and Vicarious Liability.Provide Examples

question 6

Essay

Explain the difference between strict and vicarious liability.Provide examples.

---

Definitions:

Days' Sales In Inventory

A financial metric that estimates how many days it will take to sell the entire inventory, indicating the liquidity of inventory.

Profit Margin

A financial metric that measures the extent to which a company or business activity makes money, expressed as a percentage of revenue.

Profit Margin Ratio

A financial metric that measures the percentage of revenue that exceeds the cost of goods sold, indicating the efficiency with which a company produces goods.

Gross Margin Ratio

A financial metric that measures the difference between revenue and cost of goods sold, expressed as a percentage of revenue.