Answer:
A. can be held liable for negligence because the store has a duty to warn its customers against foreseeable risk.
Explanation:
Negligence is a breach of act or certain level of behaviour, expected to be carried out by a reasoble person normal under the normal circumstances.
For a negligence claimed to stand in the court of law,
There must be an absence of duty of care by the defendant to the plaintiff.
There must be damages, losses, injury or harms suffered in the process by the plaintiff.
Causation. It must be proven that the plaintiff suffered loss, damage or injury as a result of defendant's negligence.
Examples of negligence is a shop owner who fails to put caution sign on a wet floor, a driver who fails to observe road signs thereby causing injury to pedestrians.
<h2>the seller had the duty to deliver the goods to ralph's home</h2>
Explanation:
According to the question, the information provided are:
- Ralph is a customer who ordered furniture from "Good times furniture"
- Ralph agreed to receive goods from common carrier
- While transporting, the goods got damaged.
Considering the above information, whatever may be the mode of delivery and through whomever it might be, seller is the sole responsible person to deliver the product.
A Customer does not know about the mediators. He only needs the product and he has rights only to question the seller and not the mediator.
Answer:
D. It is a fair and more reliable source of revenue.
Explanation:
Their tax base is reliable and the amount is tie to the person or business income, so more tax implies that the person is having higher income as well. This make it fair, because high-income taxpayers contribute more nominal amount than low-income taxpayers, but the rate is the same for both.
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Answer:
a. Book value
b. Materiality
c. Matching principle
d. Unrecorded revenue
e. Adjusting entries
f. Unearned revenue
g. Prepaid expenses
h. Accumulated depreciation
Explanation:
The assets are recorded at cost and then depreciated over their useful lives . The net balance of an asset being the cost less its accumulated depreciation is its Net Book Value.
Materiality is the concept whereby any accounting principle can be departed from if it is of a small amount
All expenses incurred during a period to earn revenues is known as matching principle.
Any revenue earned but not recorded or billed is known as unrecorded revenue.
Adjusting entries are recorded at period end to record revenues and expenses under accrual method.
Advances received for services to be provided after the period end is recorded as unearned revenue.
Amounts paid in advance for services/ benefits to be received in the future are known as prepaid expenses
Assets cost are allocated over its estimated useful life is known as accumulated depreciation.
