Which of the Following Is a Difference Between a Civil

question 29

Multiple Choice

Which of the following is a difference between a civil lawsuit and a criminal lawsuit?

• A) Unlike defendants in civil lawsuits, defendants in criminal lawsuits are prosecuted by public officials.
• B) Unlike civil lawsuits, criminal lawsuits are initiated by private parties.
• C) Unlike judgements in criminal lawsuits, judgements in civil lawsuits involve penalties.
• D) Unlike criminal lawsuits, civil lawsuits involve wrongs committed against the public as a whole.
• E) Unlike criminal lawsuits, civil lawsuits result in imprisonment.

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Definitions:

Impairment Losses

Monetary losses identified when the book value of an asset is higher than its salvageable value.

Fair Value

An estimate of the price at which an asset or liability could be traded in a fair transaction between willing parties.

Accelerated Depreciation

A depreciation method that allows a larger depreciation deduction in the early years of an asset's life and smaller deductions in the later years.