Any Attempt to Limit Consequential Damages for Injury Caused to a Person

question 2

Multiple Choice

Any attempt to limit consequential damages for injury caused to a person by consumer goods is considered prima facie ________.

• A)unconscionable
• B)reasonable
• C)punitive
• D)penal

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Definitions:

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Accounts Receivable

Money owed by customers to a company for goods or services provided on credit.

Notes Receivable

A customer’s written promise to pay an amount and possibly interest at an agreed-upon rate.

Allowance Method

The method of accounting for uncollectible accounts that provides an expense for uncollectible receivables in advance of their write-off.