In General, a Crime Consists of Two Elements: (1) the Wrongful

question 72

Essay

In general, a crime consists of two elements: (1) the wrongful or overt act and (2) the criminal or mental intent. Discuss the following concepts of criminal law and how and why the general elements of criminal action are altered, extended, or eliminated. In addition, give examples corresponding to each concept of the type of conduct that could be a criminal act.
a. Objective fault
b. Vicarious liability
c. Corporate liability

Know the proper accounting for goods out on consignment and goods in transit.

Identify the categories of inventory for a manufacturing business.

Comprehend the accounting principle of conservatism as it applies to inventory.

Understand the conditions under which different inventory costing methods can be used concurrently.