Chris Has Been Convicted of Embezzling $150,000 from His Employer

question 46

Multiple Choice

Chris has been convicted of embezzling $150,000 from his employer.With this money,he purchased a boat,a motorcycle,and several pieces of expensive jewelry for his girlfriend.As part of his sentence,the judge allows law enforcement authorities to confiscate any property that Chris purchased with the embezzled money.The ability of law enforcement to confiscate Chris's property that was purchased with embezzled money is referred to as:

• A)a fine.
• B)restitution.
• C)forfeiture.
• D)a day fine.

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Definitions:

Cash Flow

The net amount of cash and cash-equivalents being transferred in and out of a business, crucial for its liquidity, solvency, and financial flexibility.

Language Of Finance

The specific jargon, terms, and concepts used in the finance industry to communicate financial information and decisions.

Proprietor Form

A business structure owned by a single individual, where the owner and the business are legally the same entity.

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government, often seen in the taxation of corporate profits and then again when dividends are paid to shareholders.