If Your Business Was Facing Vicarious Liability,which of These Arguments

question 63

Multiple Choice

If your business was facing vicarious liability,which of these arguments may be helpful in deflecting the liability?

• A)Ignorance
• B)Independent contractor argument
• C)Financial inability argument
• D)Actions are within the scope of agency/employment argument

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Definitions:

Sales Dollar

Refers to the total monetary value of all sales transactions within a given period.

Profit Earned

The financial gain obtained after subtracting all expenses, taxes, and costs from the revenue generated from business operations.

Profit Center

A separate business unit or department within an organization that is responsible for generating its own revenue and profits.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in a net income or loss.