Discuss "receiving stolen property" as a crime.
What will be an ideal response?
It is the crime of receiving stolen property for a person to (1) knowingly receive stolen property and (2) intend to deprive the rightful owner of that property. Knowledge and intent can be inferred from the circumstances. The stolen property can be any tangible property like personal property, money, negotiable instruments, stock certificates, etc.
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Explain why the lower of cost or market rule is used to value inventory.
What will be an ideal response?
U.S. responses to foreign tariffs are likely to
A. establish the fundamental rule of power rather than principle. B. force a reduction in tariffs. C. create equity across markets, which is the goal. D. raise the cost of the imported goods for U.S. consumers.
Checks and drafts are considered informal contracts as their method of creation varies from one bank to another
Indicate whether the statement is true or false
Standard hours allowed are computed using the equation
A) unit labor standard x actual output. B) unit labor standard x standard output. C) unit labor standard x actual input. D) unit labor standard x standard input. E) not shown here.