CHAPTER 13 Current Liabilities and Contingencies ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Concept of liabilities; definition and classification of current liabilities. 2. Accounts and notes payable; dividends payable. 3. Short-term obligations expected to be refinanced. 4. Deposits and advance payments. 5. Compensated absences. 6. Collections for third parties. 7. Contingent liabilities (General). 8. Guaranties and warranties. 9. Premiums and awards offered to customers. Questions
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does the law justify imposing strict liability for some criminal offences? ‘actus non facit nise men sit rea’ means an act alone cannot constitute guilt without the proof of a guilty mind‚ for most criminal cases. Strict Liability is the legal responsibility for injury or damages even if the person was not at fault or negligent; this contradicts the above Latin maxim as it places sole responsibility upon a defendant without the proof of ‘mens rea.’ Strict liability is a topic that has both its pros
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Product Liability Theories of Recovery and Defense In my opinion Wood would most likely win the law suit against either the peanut or the jar manufacturer on the basis of strict liability or negligence‚ which allows a person injured by an unreasonably dangerous product to recover damages from the manufacturer or seller of the product even in the absence of a contract or negligent conduct on the part of the manufacturer or seller (Bagley‚ 2013). Therefore‚ Wood should recover damages even if the
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hydraulic joint which was inspired by the legs of a spider. The author theorizes that a deformable tube can be used in a joint in lieu of a hinge‚ akin to the blood-filled spaces within a spider’s leg‚ will grant the robotic joint greater range of motion. The initial test demonstrated a single joint on a rigid frame. A weight was applied to a suspended beam‚ applying pressure to the hinge tube. Pressure on the tube was measured with a pressure gauge‚ and the external torque acting on the joint was calculated
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Joint-Stock Company: A joint-stock company is a business entity which is owned by shareholders. Each shareholder owns the portion of the company in proportion to his or her ownership of the company’s shares (certificates of ownership). This allows for the unequal ownership of a business with some shareholders owning a larger proportion of a company than others. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. In modern corporate
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an organization‚ succeed in their leadership role in healthcare. This paper will identify important aspects of governmental or other agency such as Joint Commission on the Accreditation of Healthcare Organizations (JCAHO) that governs the health care industry or a particular segment of the industry. In addition‚ this paper will also identify the Joint Commission on the Accreditation of Healthcare Organizations (JCAHO) role‚ the impact it has on healthcare‚ the examples how they carry out their duties
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Jonathan Bender’s Joint Pain Relief Codes - Full Review Hello there and welcome to our review of the Joint Pain Relief Codes by Jonathan Bender. As always‚ this review will be divided into 3 main parts: 1. The basics section which will help you to understand better what the Joint Pain Relief Codes is all about. 2. The section about the pros and cons‚ which covers several of the main advantages and disadvantages of Jonathan Bender’s system. 3. The conclusions section that will summarize our
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Chapter 11 Current Liabilities and Payroll Questions 1. A current liability is one that is payable within the coming year or within the company’s normal operating cycle if longer than a year. All other liabilities are long-term. A contingent liability is a potential liability that depends on a future event arising out of past events. The future event will determine the amount and existence of the liability. A contingent liability may or may not become an actual obligation. 2. The company reports
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Several parts of the Constitution have important implications for federalisms. Some examples are: the Tenth Amendment‚ Necessary and proper/ ‘elastic’ clauses‚ and Supremacy clause. The Tenth Amendment –The Tenth Amendment is important because it allows states to hold elections. It also ensures that each state retains its power‚ sovereignty‚ independence and freedom. It is similar to the Articles of the Confederation. The Tenth Amendment was written to reassure the states that they would remain
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Imperfection in liability system The products liability system has been criticized on equity‚ distributive‚ and efficiency grounds. The equity arguments often express a belief that cases should be inside on the basic afford and negligence. In particular‚ firm consider it in equitable to be assessed damage when there was nothing that could be done to prevent the injury. Objection had been made to the inability to use state-of-the-art design as a defense in cases governed by strict liability. In the absence
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