Precision Crafted Tools,Inc

question 4

Multiple Choice

Precision Crafted Tools,Inc.,makes tools for consumers and construction professionals.While using a Precision Crafted tool to replace an electrical fixture,Quinn neglects to shut off the power and is electrocuted.Quinn's heirs file a suit against Precision Crafted.In a contributory negligence jurisdiction,the plaintiffs could recover

• A)only if both parties were equally at fault.
• B)only if Quinn was less than 50 percent at fault.
• C)only if Precision Crafted was more than 51 percent at fault.
• D)nothing.

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Definitions:

Year-End Balance

The final amount of money in an account at the end of a financial year, after all transactions and adjustments have been accounted for.

Accounts Receivable

Represents the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Supplies

Items used in the operation of a business that are consumed or are not permanent, such as paper, pencils, and cleaning materials.

Net Income

The net income a company achieves following the deduction of all costs, taxes, and expenses from its total earnings.