(Modify This Question for Your Province

question 143

Multiple Choice

(Modify this question for your province.) Which of the following is false with respect to our court system?

• A) A negligence action, where the extent of damage is $1500, would most likely begin in the B.C. Provincial Court, small claims division.
• B) The lawyer arguing before the B.C. Supreme Court could cite a British case, but the judge is not bound to follow it.
• C) A judge on the B.C. Court of Appeal is bound to follow the decision of a judge on the B.C. Supreme Court on a case with similar facts.
• D) There is no monetary limitation on the B.C. Supreme Court.
• E) The consequence of the merger of the common law courts with the courts of equity is that the courts now apply both legal and equitable principles and remedies.

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Definitions:

Current Ratio

A financial ratio indicating a firm's capacity to cover its short-term liabilities with its current assets.

Financial Data

Information about financial transactions, including revenues, expenses, assets, and liabilities, used to analyze the financial health of a business.

Acid-Test Ratio

A liquidity ratio that measures a company's ability to pay off its current liabilities with quick assets, excluding inventory.

Financial Data

Information related to the financial status of an individual or organization, including income, expenses, assets, and liabilities.