List the primary sources of law.

What will be an ideal response?


There are numerous sources of law within each of the 51 legal systems in the United States. The primary sources are: 1) constitutions; 2) treaties; 3) statutes; 4) administrative rules and decisions; 5) executive orders; 6) judicial systems; and 7) private law.

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Adriana and Belen are partners who share income in the ratio of 3:2 and have capital balances of $50,000 and $90,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $90,000 . How much cash should be distributed to Adriana?

a. $50,000 b. $20,000 c. $30,000 d. $45,000

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Which document typically notifies the purchaser of his or her obligation to pay?

a. vendor packing slip b. receiving report c. acceptance report d. vendor invoice

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Given the following information: Petty cash fund $ 175 Postage stamps 58 Cash on hand 4,265 Traveler's checks 550 Checking balance, First National Bank 30,425 Checking balance, Third National Bank (825) ? The total amount of cash that should appear on the balance sheet is

A) $34,648 B) $34,590 C) $34,040 D) $35,415

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A basic element of fraud is a false representation or a misrepresentation

a. True b. False Indicate whether the statement is true or false

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