Businesses Have Contested Fines Resulting from Regulations That Require Mandatory

question 252

Multiple Choice

Businesses have contested fines resulting from regulations that require mandatory self-reporting of data. They contended that self-reporting of violations violated the Fifth Amendment prohibition against self-incrimination. The Supreme Court has ruled that:

• A) the self-incrimination privilege of the 5th Amendment applies to individuals only
• B) corporations are not protected by the self-incrimination privilege of the 5th Amendment
• C) the self-incrimination applies to businesses if the charge may be for criminal penalties, but not for civil penalties
• D) the self-incrimination privilege of the 5th Amendment applies to individuals only and corporations are not protected by the self-incrimination privilege of the 5th Amendment
• E) the self-incrimination privilege of the 5th Amendment applies to individuals only and corporations are not protected by the self-incrimination privilege of the 5th Amendment and the self-incrimination applies to businesses if the charge may be for criminal penalties, but not for civil penalties

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Definitions:

Journalized

Journalized refers to the process of recording financial transactions in a journal or ledger in the chronological order that they occur.

Retainer Fee

A payment made to secure the services of a professional or consultant, typically paid upfront and used against services provided.

Unearned Revenue

Money received by a company for goods or services not yet delivered or performed, considered a liability until the service or product is delivered.

Legal Representation

Professional legal services provided by an attorney or law firm to advise or represent a client in legal matters.