Examlex
Why should persons interested in reading financial reports of government and not-for-profit entities be familiar with standards set by the GASB and FASB?
Strict Liability
Legal responsibility for damages, or for performing a specific act, that is imposed without the need to prove fault or negligence.
Defective Condition
A state in which a product possesses an inherent flaw or deficiency that makes it dangerous or unfit for its intended use.
Strict Product Liability
A legal doctrine that holds sellers, manufacturers, or distributors liable for damages caused by defects in their products, regardless of fault or negligence.
Heat-Resistant Tiles
Materials designed to protect surfaces or structures from damage by high temperatures, often used in aerospace applications.
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