Which of the Following Statements Regarding Liability Doctrines Is Not

question 28

Multiple Choice

Which of the following statements regarding liability doctrines is not true?

• A)Under proportionate liability,a defendant's share of damages depends on the degree of fault determined by the judge or jury.
• B)Joint and several liability provides more protection to users who experience losses from relying on misstated financial statements.
• C)Proportionate liability generally applies to lawsuits filed in federal court.
• D)Joint and several liability cannot be applied in class-action lawsuits.

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Definitions:

Fixed Cost

Expenses that do not change with the level of production or output within a certain range or period.

Variable Cost

Costs that vary directly with the level of production or output, such as materials and labor.

Operating

The day-to-day activities or functions necessary for a business or organization to run effectively and efficiently.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a product for which there are many substitutes.