ACCT 432 Ch 10 Exam Review


10 questions

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  • 1. Multiple Choice
    1 minute
    1 pt

    In order for damages to be assessed, the court must find:

    There is liability in the case.

    One of the parties is really bad.

    Criminal violations have occurred.

    There is both a liability and criminal violations have occured.

  • 2. Multiple Choice
    1 minute
    1 pt

    Jim Company sold assets to Fred Company with an alleged value of $2,400,000. Jim Company paid $2,100,000 for the assets. The actual value of the assets was $1,700,000. Using the "out-of-pocket" damage loss rule, the fraud damages would be:





  • 3. Multiple Choice
    30 seconds
    1 pt

    Rebuttal testimony occurs during the:

    Discovery phase of the case.

    Trial stage of the case.

    Initial pleadings in the case.

    Closing arguments in the case.

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