Omission liability - Study guides, Revision notes & Summaries

GAAP Generally Accepted Accounting Principles. The standards and rules that accountants follow while recording and reporting financial activities. It encompasses the procedures accepted in the accounting process. IASB International Accounting Standards Board. They actively develop and issue accounting standards that will to be followed internationally. Its purpose is to narrow down the differences in the world when preparing a financial statement. Conceptual Framework of Financia...

Strict Liability - Correct Answer-no mental state Omission - Correct Answer-failure to act Crime - Correct Answer-act punishable by imprisonment Max Penalties - Correct Answer-Misdemeanor - 90 days/ $1,000 Gross Misdemeanor - 364 days/ $5,000 Class C Felony - 5 years/ $10,000 Class B Felony - 10 years/$20,000 Class A Felony - Life/ $50,000 5 Premises of Crim Law - Correct Answer-1. act or omission 2. mens rea (mental state) 3. concurrence 4. causation 5. all laws written 1...

TLETA Week 2 Questions and Answers Already Passed **Identify the three key aspects of the negligence triangle.** Who was injured, who is responsible, and who has the money. **What should officers receive according to Perkin v. Harris regarding foreseeable activities?** Officers should receive training and information on foreseeable activities. **Who will be held liable for accidents if an officer acts within the scope of department policy?** The department. **Define a gover...

QUESTION 1 Discuss the causality (at the expense of requirement) requirement of enrichment liability. (10) QUESTION 2 In McCarthy Retail Ltd v Shortdistance Carriers CC 2001 (3) SA 482 (SCA) para [9] the court said: “We now know from the hard print that there is a common-law basis for the acceptance of a general enrichment action, at least one of a subsidiary nature. In this respect the decision of the majority in Nortje’s case has been shown by the then largely dormant authority to b...

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...

Colorado Mental Health Jurisprudence Exam Questions And Answers 2023/2024 Rated A+. Records required to be kept and record retention (DORA) - Correct Answer-SW must retain record for 7 years from the date of termination. I Record information on record - Correct Answer-name, phi, referral reason, mandatory disclosure statement. (5) Dates of service including, but not limited to the date of each contact with client, the date on which services began, and the date of last contact with client; ...

AINS 102 (Latest 2023/ 2024 Update) Understanding Personal Insurance Exam Prep| Questions and Verified Answers| 100% Correct Q: General damages Answer: A monetary award to compensate a victim for losses, such as pain and suffering, that do not involve specific, measurable expenses. Q: HO-3 Special Form Answer: Coverage for owner-occupants, providing open perils coverage on buildings and specified perils coverage on personal property. Q: Hull insurance Answer: I...

Delict correct answers Wrongful conduct The act of a person which in a wrongful and culpable way causes loss, damage to another. Requirements of Delict correct answers Act. Wrongfulness. Fault. Causation. Damage Delict versus Crime correct answers Delict- protects public interest. The aggrieved party institutes the action. Objective- claim damages as compensation. No attempted Delict Crime correct answers Protects public interest. State prosecutes. Punish the criminal. Can have attempt...

COMLEX Medical Law/Ethics Exam Questions with correct Answers Latest How long does a physician have to release records when requested by a patient? - 30 days; 5 days after written consent if medical records are requested for Tx What are the 3 types of torts (aka. Civil wrong, as opposed to a criminal wrong)? - There are basically three types of torts: 1. *Intentional* torts= when doc intentionally causes harm knowing the consequences 2. *Negligence*= 4D's; An act or failure to act (om...

Real Estate U Texas Real Estate Finance(6) Exam Questions And Answers All verified By An Expert An acceleration clause is included in which of the following...? The mortgage Both the promissory note and mortgage The promissory note The lien - ANS The promissory note? Collateral - - ANS Marketable real or personal property which a borrower pledges as security for a loan. In mortgage transactions, specific land is the collateral. Promissory Note - - ANS Following a loan commitme...