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Business FINAL
| Question | Answer |
|---|---|
| Jurisprudence | The formal science of positive law |
| Litigate (Lawsuit) | To carry on a legal contest by judicial process |
| Plaintiff | A person who starts a personal lawsuit to obtain a remedy for an injury to his rights |
| Contributory Negligence | When the plaintiffs conduct is a legally contributed cause with the defendants negligence causing the plaintiffs harm |
| Natural Law | Is an Ideal Law |
| Defendant Vs Plaintiff | Defendant is a person required to make answer, A Plaintiff is a person who starts a personal action to obtain a remedy |
| Social Engineering | The process of developing and controlling society through law |
| Sanction | The technique for maintaining social control over society |
| Tort | A civil wrong that a court will give remedy |
| Felony | A serious crime for which the punishment can be more than one year or death |
| Misdemeanor | A crime for which the punishment is one year or less in prison and/or a possible fine |
| Violation | Offenses that are lesser importance than the misdemeanors and felonies |
| Mens Rea | The mental element required for a crime |
| Duress | Forcible restraint or restriction |
| Larceny | Taking or carrying away ones personal property |
| Battery | A person intentionally causes harmful bodily contact with another |
| Assault | A person intentionally causes an unprivileged act with offensive bodily contact to another |
| False imprisonment | Restraining the movement of another person |
| (T/F)- Income taxes may be collected on wages and tips | True |
| (T/F)- A tax credit reduces the amount of taxes owed dollar-for-dollar | True |
| (T/F)- Self-employed workers usually have taxes automatically withheld from paychecks | False |
| Which tax is taken directly from an employees paycheck for Social security and Medicare? | Payroll Tax |
| What does FICA stand for? | Federal Insurance Contributions Act |
| What form helps employers estimate how much tax to withhold from paychecks? | W-4 |
| Which tax system takes a larger percentage from higher-income earners? | Progressive |
| Which level of government mainly uses taxes for national defense? | Federal |
| What form do employees receive to report wages and withheld taxes? | W-2 |
| Which workers commonly receive form 1099-NEC? | Contractors |
| Tax deductible | Reduces taxable incomes |
| Tax Credit | Direct reduction of taxes owed |