A New Corporation May Generally Select One of the Following

question 53

Multiple Choice

A new corporation may generally select one of the following accounting methods with the exception of

• A)cash method.
• B)accrual method.
• C)retail method.
• D)hybrid method.

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Definitions:

Contributorily Negligent

A legal doctrine where a plaintiff's own negligence partially contributes to the harm they suffered.

Occupiers' Liability Act

Legislation that defines the duty of care owed by those who control land or buildings towards individuals who enter or use their premises, to ensure safety and prevent harm.

Rule in Rylands v. Fletcher

A legal principle establishing liability for harm caused by the escape of something likely to do mischief from one's land.

Strict Liability

A legal principle where the defendant is liable for the consequences of an action, regardless of intent or negligence.