Consumers Who Do Not Want to Receive Telephone Calls Related

question 51

Multiple Choice

Consumers who do not want to receive telephone calls related to company sales efforts can

• A)purchase home software to block calls.
• B)place their numbers on the National Do-Not-Call Registry.
• C)request phone numbers that begin with 555 which are automatically blocked from solicitors.
• D)request an unlisted number.
• E)use a cell phone rather than a land-line as their main phone contact.

Understand the basic principles and theories of product liability.

Identify the elements required to establish a claim under strict product liability.

Differentiate between types of warranties and identify how they apply in product liability cases.

Recognize the role of negligence, including negligent failure to warn, in product liability.

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Definitions:

Sold

Refers to the completion of a transaction where goods or services are exchanged for payment.

Recording Depreciation

The process of allocating the cost of a tangible asset over its useful life to reflect its decrease in value over time.

Expense Recognition Principle

An accounting principle stating that expenses should be recorded in the period in which they contribute to revenue, not necessarily when the expense is paid.

Fully Depreciated

An asset has reached the end of its useful life, and its book value is reduced to salvage value or zero.