Vladimir Is a "Payday" Lender Charged with Filing False Claims

question 62

Multiple Choice

Vladimir is a "payday" lender charged with filing false claims in bankruptcy proceedings against his customer-debtors.The standard of proof to find a defendant who has been charged with a crime guilty is

• A)a preponderance of the evidence.
• B)beyond all doubt.
• C)beyond a reasonable doubt.
• D)clear and convincing evidence.

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Definitions:

Account Form

The form of balance sheet that resembles the basic format of the accounting equation, with assets on the left side and Liabilities and Owner’s Equity sections on the right side.

Merchandising Business

A type of business that purchases goods and resells them to consumers without changing their form, primarily making profit through the retail or wholesale of products.

Service Business

A business that provides intangible products or services to customers rather than physical goods.

Closing Entries

The entries that transfer the balances of the revenue, expense, and drawing accounts to the owner’s capital account.