In Which of the Following Cases Is a Default Judgment

question 75

Multiple Choice

In which of the following cases is a default judgment entered?

• A) when a defendant admits all the allegations in the complaint
• B) when there is insufficient evidence to resolve the dispute
• C) when the court believes that the lawsuit can be settled before/without trial
• D) when a defendant does not file a written response to a plaintiff's complaint

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Definitions:

Income Statement

A financial statement that showcases a company's revenues, expenses, and net income over a specific period, reflecting its financial performance.

Variable Costing

A method of cost accounting in which only variable production costs (materials, labor, and variable overhead) are included in the cost of a unit of product.

Unit Product Cost

The total cost to produce one unit of a product, including direct materials, direct labor, and overhead allocated on a per-unit basis.

Absorption Costing

This method in accounting ensures that the costing of a product fully reflects all manufacturing expenses, which cover direct materials, direct labor and all overhead costs, fixed and variable alike.