Which Statement Is True Regarding Warnings and the Usage of Products

question 59

Multiple Choice

Which statement is true regarding warnings and the usage of products by children?

• A)Warnings are only required for minors above the age of twelve because it is assumed that children under that age will not be able to comprehend warnings.
• B)There is a duty to warn when children are involved,but it is no different from the duty to warn when only adults are expected to use a product.
• C)Warnings are only required for children whose parents actually purchased the product.
• D)Picture warnings could be required if children are likely come into contact with the product and risk harm from its use.
• E)There is no duty to warn when children are involved because it is assumed that parents are responsible.

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Definitions:

Notes Payable

Short or long-term financial obligations evidenced by promissory notes, requiring the borrower to repay the principal amount along with any accrued interest.

Market Interest Rate

The prevailing rate of interest available in the marketplace for securities of similar risk and maturity.

Annual Payments

Payments that are due once per year, commonly used in the context of loans, leases, or other financial agreements.

Compounded Annually

Refers to the process of calculating and adding interest to the principal amount of an investment or loan once per year.