The Following Events Occurred Last Year for the Cronin Company

question 146

Multiple Choice

The following events occurred last year for the Cronin Company: Considering just the above transactions, the net cash flows from financing activities on the statement of cash flows was

• A) $20,000.
• B) $5,000.
• C) $15,000.
• D) $25,000.

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Definitions:

Reasonably Safe

A standard requiring that a product, environment, or practice should not pose significant harm to individuals when used or engaged in as intended, taking into account possible preventive measures.

Strictly Liable

Refers to the legal responsibility of a party for damages or loss, regardless of fault or negligence.

Reasonable Person

A reasonable person is a legal standard used to represent a hypothetical person who exercises average care, skill, and judgment in conduct, serving as a comparative standard in negligence cases.

Law of Torts

A component of civil law dealing with the compensation of victims for harm caused by someone’s negligence or intentional acts.