Should Those Individuals Who Have Served Time and Later Found

question 85

Short Answer

Should those individuals who have served time and later found wrongfully convicted have reparations paid to them by the governmental body who wrongly incarcerated them? Can you place a monetary value on the loss of freedom?

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Definitions:

Costing Method

a technique or methodology used to determine the cost associated with a production process or project.

LCM Approach

The Lower of Cost or Market method, an accounting principle requiring inventory to be recorded at either its historical cost or market value, whichever is lower, to reflect potential losses.

Market Value

An estimation of the price at which an asset or company could be bought or sold in a current market.

IFRS

International Financial Reporting Standards represent worldwide accounting norms that facilitate the creation of financial statements.