A Jury Decision in a Civil Case

question 41

Multiple Choice

A jury decision in a civil case:

• A) must be unanimous.
• B) must be reached in the same day the case is heard.
• C) depends on whether or not the parties have agreed to have their case decided by less than a unanimous verdict.
• D) is achieved by informal deliberations.

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Definitions:

Financial Liability

An obligation that requires the entity to transfer economic benefits including money, goods, or services to another entity as a result of past transactions or events.

Convertible Debt

A type of bond or other form of debt that can be converted into a specified number of shares of the issuing company's stock at certain times during its life.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards, principles, and procedures that companies must follow when compiling their financial statements.

APB

The Accounting Principles Board, which was an organization that set standards for financial reporting and accounting in the past, succeeded by the FASB.