Many Laws Require a Determination of Actual Injury Before Liability

question 136

Essay

Many laws require a determination of actual injury before liability or guilt is determined.Is it fair that under the Clayton Act,a merger may be prevented merely because the merger is "likely" to substantially lessen competition or create a monopoly? Even if you do not agree with this regulation,why do you think it was enacted?

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Definitions:

Financial Information

Data concerning the financial status, performance, and changes in financial position of an entity that is useful to a wide range of users in making economic decisions.

Conceptual Framework Project

A systematic approach to developing a set of concepts that guide the creation, interpretation, and application of financial reporting and accounting standards.

Objectives of Financial Reporting

The goal of providing financial information about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors in making decisions about providing resources to the entity.