John Committed a Crime Two Days Prior to His 18th

question 133

Multiple Choice

John committed a crime two days prior to his 18th birthday.One month later,he was charged in adult criminal court with committing the offence.What type of excuse defence will he be able to use?

• A)age
• B)mistake of fact
• C)mistake of law
• D)necessity

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Definitions:

Functional Currency

This represents the primary currency of the economic environment in which a business operates, determining the currency in which its financial statements are presented.

Ending Inventory

The total value of all the goods available for sale at the end of an accounting period, calculated before the start of the next period.

Exchange Rates

The valuation at which one nation's currency can be swapped for another's, pivotal in global finance and affecting import-export pricing.

Acquisition Differential

Represents the excess amount over the fair market value of net assets that is paid by a company to acquire another company.