Under Our Legal System,which Is Derived from English Common Law

question 42

Multiple Choice

Under our legal system,which is derived from English common law

• A)our courts simply resolve the dispute based on common sense.
• B)our courts look to and apply principles of law that have evolved out of cases dealing with the same subject matter as does the dispute between the private parties.
• C)our courts look to the way other countries have resolved disputes between private parties.
• D)our courts look to legislation passed by the federal and provincial governments to resolve disputes between private parties.
• E)our courts look to the constitution to resolve disputes between private parties.

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Definitions:

Tangible Capital Assets

Physical assets owned by a firm that are used in its operations over several years, including buildings, machinery, vehicles, and equipment.

Government

The system or group of people governing an organized community, often a state, and the organization by which this group exercises authority and performs functions.

Unexpired Service Potential

the remaining usefulness or service capacity of an asset, usually in the context of public sector accounting.

CICA PSA Handbook

The Public Sector Accounting Handbook issued by the Canadian Institute of Chartered Accountants, providing guidelines for accounting practices in the public sector.