Responsibility for the Actions of Another Is Called

question 82

Multiple Choice

Responsibility for the actions of another is called

• A)direct liability.
• B)independent contractor liability.
• C)vicarious liability.
• D)exculpatory clause.

---

Definitions:

Interest Rate

Interest rate is the percentage of principal charged by the lender for the use of its money or the return earned on deposited funds.

Future Value

The value of an investment at a specified date in the future that is equivalent in value to a specified sum today, after being compounded at a given interest rate.

Simple Interest

Interest calculated on the principal amount of a loan or deposit, without compounding.

Account Value

The total worth of a financial account, including cash, investment holdings, and any other assets minus liabilities.