If the Jury Grants an Award That Is Exceedingly High

question 33

Multiple Choice

If the jury grants an award that is exceedingly high or low, the trial court can award

• A) additur.
• B) remittitur.
• C) either additur or remittitur.
• D) only the amount decided upon by the jury.

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Definitions:

Enacted Tax Rate

The tax rate established by law that is applied to income or transactions.

Income Tax Expense

The total amount of income tax a company expects to pay to tax authorities relative to its taxable income.

Deferred Tax Asset

A financial item on a company's balance sheet representing taxes paid or carried forward that can be used to offset future tax liabilities.

Tax-Exempt Municipal

Refers to income earned from municipal bonds that is exempt from federal income tax and, in many cases, state and local taxes.