John Broke into a Convenience Store in Town and Stole

question 155

Multiple Choice

John broke into a convenience store in town and stole approximately $3,500. The police were able to show witnesses pictures of John's features and quickly arrested him on the theft charges. Once the Crown looked over John's history, it was discovered that this was not his first offence of theft. This gave the prosecutors the option to decide whether to proceed as a summary conviction or an indictable one. How is John's offence classified?

• A)indictable offence
• B)summary offence
• C)absolute jurisdiction offence
• D)hybrid offence

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Definitions:

Bonds

A fixed income investment in which an investor loans money to an entity (corporate or sovereign) which borrows the funds for a definite period at a variable or fixed interest rate.

Excess Cash

Surplus funds that are not required for immediate operational needs or investment purposes.

Accrued Interest

Interest that has been incurred but not yet paid, usually recorded as a liability on the balance sheet.

Interest Dates

Specific dates on which interest payments on loans or bonds are due to be paid to lenders or bondholders.