A Minor Crime for Which the Penalty Is a Fine

question 90

True/False

A minor crime for which the penalty is a fine or imprisonment for a short time-usually less than a year in a local jail-is called a misdemeanor.

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Definitions:

Valuable Asset

An item, thing, or entity that is of great worth or importance in achieving goals or in the financial standing of an organization or individual.

Small Business

Refers to privately owned corporations, partnerships, or sole proprietorships with fewer employees and less annual revenue than a regular-sized business.

Business Failure

The cessation of operations and the inability of a company to continue financial performance due to various factors such as poor management or market conditions.

Receivership

A legal process in which a court appoints a receiver to manage the assets and business operations of a company that is in financial distress.