Billy Is Walking Along the Street and in Front of Him

question 24

Multiple Choice

Billy is walking along the street and in front of him a woman is walking. Billy is wearing his running shoes so the woman does not suspect anything. He bolts ahead and grabs the woman's purse, but the woman resists by holding on to the purse. Billy turns on the woman and shows her a knife. The woman immediately releases the purse and Billy turns and runs straight into a police officer, who arrests him.

• A)Before Billy pulled a knife on the woman, the incident would have been treated as a:
• B)theft.
• C)robbery.
• D)burglary.
• E)home invasion.

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Definitions:

Common Stock

This represents ownership shares in a corporation, giving shareholders voting rights and a claim on a portion of the company's profits in the form of dividends.

Additional Paid-In Capital

The amount of money paid by investors for shares of stock above their par value; it is a measure of the excess investment made by shareholders.

Journal Entries

Recorded business transactions in the accounting records of a company, following the double-entry bookkeeping principle.

Note Payable

A written agreement whereby the borrower agrees to pay a certain sum of money to the lender at a future date.