Following the Decision in Illinois V

question 28

Multiple Choice

Following the decision in Illinois v. Gates (1983) , _____.

• A) all states and the federal government have adopted the totality of circumstances approach
• B) all states adopted totality of circumstances, but the federal government retained the Aguilar-Spinelli criteria
• C) the totality of circumstances approach was subsequently overruled
• D) some states rejected the Gates decision and retained the Aguilar-Spinelli criteria on the basis of their own state constitutions

---

Definitions:

Total Current Liabilities

The sum of all liabilities of a company that are due within one year, including accounts payable, short-term loans, and other short-term financial obligations.

Assets

Resources owned by a person or business that have economic value and can provide future benefits.

Inventory Turnover Ratio

Indicates how many times a company's inventory is sold and replaced over a certain period, calculated by dividing cost of goods sold by average inventory.

Inventories

Raw materials, work-in-process products, and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.