Bob Runs a Stop Sign

question 2

Multiple Choice

Bob runs a stop sign.He didn't see the sign and he did not intend to break the law.Bob is guilty of a(n) ________ offense.

• A)strict liability
• B)procedural
• C)juvenile
• D)inchoate

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Definitions:

Commercial Substance

A characteristic of a transaction indicating that it will result in a significant change in the economic circumstances of a business.

Future Cash Flows

The amount of money that is expected to be received or paid out by a business in the future.

Exchange of Assets

Transactions where businesses or individuals trade assets of similar value, such as property, equipment, or securities.

Units-Of-Production Method

A depreciation method allocating the cost of an asset over its useful life based on its level of activity or production.