Which of the Following Is True in State V

question 15

Multiple Choice

Which of the following is true in State v.Mills?

• A)If a creditor extends credit in reliance upon security which is falsely represented to be adequate,he has not been defrauded if the debtor intends to repay the debt.
• B)The risk a creditor did not intend to assume if imposed upon him by the intentional act of the debtor cannot constitute intent to defraud.
• C)Intent to repay a loan obtained on the basis of a false representation of the security for the loan is no defense.
• D)The crime of larceny is designed to protect one's title interest.
• E)The crime of false pretense protects a person's possessory interest in property.

---

Definitions:

Contribution Margin Ratio

A measure that shows the percentage of sales revenue that exceeds the variable costs of production.

Variable Costs

Variable costs are expenses that change in proportion to the activity of a business, such as raw material costs, which vary with production volume.

Fixed Costs

Expenses that do not vary with the level of production or sales, such as rent, salaries, and insurance premiums.

Break-Even Point

The level of production or sales at which total revenues equal total expenses, resulting in no net profit or loss.