Child's Play,Inc

question 7

Multiple Choice

Child's Play,Inc. ,sells a toy with a dangerous defect.Drew buys the toy for his son but discovers the defect before the child is injured.Drew files a suit against Child's Play.The firm's best ground for dismissal of the suit is that Drew does not have

• A)certiorari.
• B)jurisdiction.
• C)standing to sue.
• D)sufficient minimum contacts.

---

Definitions:

Ending Inventory Value

The total value of all the goods available for sale at the end of a financial period.

LIFO Periodic

An inventory accounting method where the last items purchased are the first ones used in costing inventory, applied at the end of the accounting period.

Inventory Value

The total cost or market value of all the goods and products held by a company intended for sale in the ordinary course of business.

Rising Prices

Refers to an economic condition where the general level of prices for goods and services increases over a period of time.