This Theory Holds That Hearsay Is Permissible as Long as It

question 12

Multiple Choice

This theory holds that hearsay is permissible as long as it is reliable.

• A) reliability theory
• B) procedural rights theory
• C) minimalist theory
• D) production theory

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Definitions:

Net Income

The net income of a company calculated by deducting all costs, taxes, and expenses from its total revenue.

Income-Sharing Ratio

The predetermined method by which profits or losses are divided among participants in a joint venture or partnership.

Limited Liability Partnership

Limited Liability Partnership (LLP) is a partnership in which some or all partners have limited liabilities, protecting their personal assets from the partnership's debts.

Limited Liability Company

An organizational model that merges the direct tax benefits of a partnership or sole proprietorship with the corporation's advantage of limited liability.