The Following Are Subject to Lawsuits for Negligence When They

question 24

Multiple Choice

The following are subject to lawsuits for negligence when they fail to perform according to the standards expected of them,EXCEPT:

• A) medical practitioners.
• B) accountants.
• C) travel agents.
• D) consumers.

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Definitions:

Donations

Gifts of money or goods to charitable organizations or institutions, often tax-deductible for the donor.

Endowment Contribution

Funds given to an institution, often a nonprofit or educational entity, with stipulations that the principal be maintained permanently and only the investment income be used.

Inventories Valuation

The method used to assess the cost or market value of inventories a company holds at the end of a financial period to ensure accurate financial reporting.

Nominal Charge

A minimal or symbolic fee often charged to meet legal requirements rather than to cover the cost of services.