There are several definitions of common law which among the below is the best offered
a. Uniform codes passed by elected authorities.
b. Judge-made law reflecting the customs and usages of the people.
c. Statements that reflect what should and should not be or how one should act
d. The law of France evolved into a framework of principles, found in both customs and statutes that were brought to the New World by the early colonial settlers.
b
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All of the following statements are true except:
a. International accounting standards are more flexible in allowing the use of fair market values for intangible assets. b. FASB standards require all research and development costs to be expensed. c. IFRS requires all research and development costs to be expensed. d. Under IFRS, fair market values for intangibles require an active market.
Cragmont has beginning equity of $277,000, net income of $63,000, dividends of $25,000 and no additional investments by stockholders during the period. Its ending equity is:
A. $277,000. B. $365,000. C. $315,000. D. $239,000. E. $189,000.
Which of the following refers to a customer’s design requirements for a product or service?
a. Control limits b. Test limits c. Specification limits d. Process limits
The United States Supreme Court has the power to A) appoint judges to serve on the Supreme Court
B) void laws passed by Congress. C) issue executive orders. D) ratify treaties.