Malicious Mischief Under Most Statutes Is a ______ and the Punishment

question 29

Multiple Choice

Malicious mischief under most statutes is a ______ and the punishment is reduced or increased based on the dollar amount of the damage.

• A) misdemeanor
• B) reckless felony
• C) minor felony
• D) aggravated misdemeanor

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Definitions:

Merchandise Inventory

Goods that a company holds with the intent of selling them to customers.

Accounts Payable

Liabilities or amounts owed by a business to creditors for purchases or services rendered that haven't been paid for yet.

Contra-Asset

An account displayed on the balance sheet that reduces the value of a related asset, such as accumulated depreciation.

Liability

Financial obligations, debts, or responsibilities owed by a business to others, to be settled over time through the transfer of economic benefits.