Based on the Judicial Concept of Competing Interests,what Is It

question 59

Multiple Choice

Based on the judicial concept of competing interests,what is it that a judge attempts to negate when facing the task of compensating victims of negligence?

• A) the excessive litigation costs imposed on a victim seeking compensation
• B) the lack of certain specificity in the steps imposed when litigating a tort action
• C) the imbalance of power between a victim and a large corporate defendant
• D) enforcing unreasonably exacting legal standards on commercial activities

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Definitions:

Deduction

An amount that is allowed to be subtracted from gross income in order to reduce taxable income, thus lowering the overall tax liability.

Direct Write-Off Method

An accounting method where uncollectible accounts receivable are written off directly against income at the time they are deemed uncollectible.

Uncollectible Accounts

Financial debts deemed unrecoverable from debtors that are often written off as bad debt expense.

Matching Principle

An accounting principle that dictates expenses should be recorded in the same period as the revenues they helped to generate.