Certain Kinds of Evidence Considered to Be Both Relevant and Trustworthy

question 24

Essay

Certain kinds of evidence considered to be both relevant and trustworthy are excluded because society's interest in establishing the truth in lawsuits is outweighed by some greater interest.When this is so, the evidence usually is excluded on the ground that privilege exists.Explain what privilege exists and why it exists.

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Definitions:

Qualitative Characteristic

A feature that allows users to assess and compare the financial position, performance, and changes in financial position of an entity, emphasizing non-quantifiable information.

Present Value Analysis

A financial calculation that determines the current worth of a future sum of money or stream of cash flows given a specified rate of return.

Capital Investment

The spending of money to purchase assets or property intended to create growth or profit for a business.

Investment Funds

Pooled funds that collect capital from multiple investors to invest in securities, real estate, or other assets, according to a predetermined strategy.