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9 months ago

What is a worrisome consequence under the joint and several liability principle?

1 answer:

7 0

Each culpable party is responsible for its proportionate share of the damages. Damages are always the responsibility of all negligent parties.

What is joint and several liability?

Each party is individually liable for the entire extent of the damages caused by the tortious act when two or more people become jointly and severally responsible for that though.
As a result, if a plaintiff obtains a monetary judgment against all of the parties, they may each be held liable for the full amount of the verdict.
The other wrongdoers may then be asked to contribute to that party. The law of undivided injury is the name given to the idea of picking the defendant(s) against whom to seek damages.

The worrisome consequences are as previously mentioned, joint and several liability usually works in the plaintiff's favor because it raises the likelihood that every one of the damages granted will be recouped.

In contrast hand, it can be thought unjust for a party to suffer a disproportionate financial loss as a result of an unpleasant incident for which it had only a tiny responsibility.

Learn more about joint and several liability here:

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Loop 1604 Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is

Charra [1.4K]

Answer:

Flexible budget variance for Sales Revenue = $3,960 Favorable

Explanation:

Provided budget is static budget, firstly for calculating flexible budget variance for Sales Revenue.

For this flexible budget is made of same level of quantity as of actual level.

therefore Flexible budget sales = 990 units @ $70 per unit price will be same as of static budget.

Therefore Variance = Standard Flexible Budgeted Sales - Actual Sales

Standard Flexible Budgeted Sales = 990 $\times$ $70 = $69,300

Actual Sales Revenue = 990 $\times$ $74 = $73,260

Since actual revenue is more than budgeted sales this is favorable.

Flexible Budget Variance for Sales Revenue = $69,300 - $73,260 = $3,960

Since actual revenue is more than budgeted revenue therefore this is a favorable variance.

Flexible budget variance for Sales Revenue = $3,960 Favorable

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3 years ago

Monetary policy could be procyclical if the Federal Reserve: a) is late recognizing that a recession has begun and conducts expa

gladu [14]

A) is late recognizing that a recession has begun and conducts expansionary monetary policy.

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3 years ago

Most informational reports are written a. by only top business executives. b. using the indirect organizational strategy. c. for

Aliun [14]

<h2>using formal writing style</h2>

Explanation:

Informational reports are written for the purpose of internal audience.

A formal writing style consists of the following:

It will be written using active voice
Will avoid vague language
Sentences will be crisp and clear. No too lengthy sentences are allowed
Abbreviations will not be present
Sentences will include items expressed in a positive way
There will not be any exaggeration of pointers
No exclamation mark will be outside the quotation marks.

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3 years ago

Bank Reconciliation

Karo-lina-s [1.5K]

Answer:

Cash balance according to the bank $23,557.98

+ deposits in transit $12,125.25

- outstanding check N⁰ 124 ($62)

- outstanding check N⁰ 125 ($42)

- outstanding check N⁰ 129 ($1,250)

adjusted bank balance = $34,329.23

Cash account balance $51,596.88

+ note collected by bank $15,250.75

- NSF check ($23,475.40)

- Bank fees ($250)

- Error in recording check N⁰ 125 ($9,000)

adjusted cash account balance = $34,122.23

two errors were detected:

outstanding check N⁰ 125 correct amount is ($24)
bank fees are $25

so the readjusted balances are:

adjusted bank balance = $34,329.23 + ($42 - $24) = $34,347.23

adjusted cash account balance = $34,122.23 + ($250 - $25) = $34,347.23

now both accounts are equal.

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3 years ago

Suppose the government imposes a price ceiling above the equilibrium price of a given good. Which of the following is the most l

VikaD [51]

Answer:

c) No change will occur in the market.

Explanation:

The correct option is : (c) No change will occur in the market

Reason: A price ceiling above the equilibrium price is a non binding price ceiling and it does not affect the market. No change in supply or demand occurs.

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3 years ago