D Secretly Obtains V's Cheque Card and Withdraws £200 from V's

question 1

Multiple Choice

D secretly obtains V's cheque card and withdraws £200 from V's bank account at a cash point. V only had £150 in his bank account. Which of the following represents the law:

• A) D has appropriated and stolen a debt owed to V by the bank of the credit balance in his account, ie: £150. V had no right to any further money and therefore, D has not stolen the further £50 from V. D will, though, have committed a fraud offence in relation to the entire amount. See next chapter.
• B) V owned £150 in exact notes and coins but no more. Therefore D has stolen only £150.
• C) D has stolen nothing because you cannot appropriate intangible property.
• D) D has stolen the entire amount from the bank.

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Definitions:

Variable Costing

A costing method that includes only variable production costs (costs that vary with output) in the cost of goods sold and excludes fixed overhead costs.

Variable Costing

A costing method that includes only variable production costs (materials, labor, and variable manufacturing overhead) in product costs, excluding fixed overhead.

Net Operating Income

The company's profit remaining after operating costs are removed, but prior to the deduction of taxes and interest.

Fixed Manufacturing Overhead

Fixed manufacturing overhead includes the costs associated with manufacturing that do not vary with the level of production, such as rent, salaries, and utility costs.