Which One of the Following Statements Is CORRECT

question 5

Multiple Choice

Which one of the following statements is CORRECT?

• A)Although juvenile courts remain as part of the judicial scene, statutes commonly provide that for certain offenses a juvenile may be tried as an adult.
• B)The only defenses that are based on a defendant asserting an excuse or justification: are mistake of law and mistake of fact.
• C)A person who violates a statute based on advice of counsel has a valid defense for violating the law.
• D)Federal and state courts hold threats of future harm can be sufficient to constitute the defense of duress.

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Definitions:

Book Value

The remaining value of a corporation's assets after subtracting its debts, as noted in the balance sheet.

Equity Method

An accounting technique used for recording investments in associate companies, where the investment is initially recorded at cost and adjusted thereafter for the post-acquisition change in the investor's share of the investee's net assets.

Equipment Account

An account on the balance sheet that represents the current value of the equipment owned by a company after adjusting for depreciation and amortization.

Acquisition Method

An accounting approach used for consolidating the financial statements of a parent company and its subsidiaries to present as one entity.