A liability where proof of fault or negligence is not required is defined as:

• A. Strict liability
• B. Vicarious liability
• C. Contingent liability
• D. Constructive liability

Answer: (A)

Verified step by step guidance

1. Understand the concept of liability in financial accounting, which refers to obligations or debts owed by an entity.
2. Learn the definition of 'strict liability,' which is a legal concept where a party is held responsible for damages or harm without the need to prove fault or negligence.
3. Compare 'strict liability' with other types of liabilities mentioned: 'vicarious liability' (responsibility for actions of another party, such as an employee), 'contingent liability' (potential liability dependent on a future event), and 'constructive liability' (liability inferred by law based on circumstances).
4. Identify that the key characteristic of 'strict liability' is the absence of the requirement to prove fault or negligence, making it distinct from the other types of liabilities listed.
5. Conclude that the correct answer to the problem is 'strict liability,' as it matches the definition provided in the question.