Which of the Following Is True Regarding Categories of Law

question 64

Multiple Choice

Which of the following is true regarding categories of law?

• A) Substantive law establishes the rights an individual has in society.
• B) Private law includes constitutional law.
• C) Criminal law involves the rules that govern our personal, social, and business relations.
• D) Substantive law determines how procedural laws will be enforced.
• E) Procedural law establishes the limits on an individual's conduct.

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Definitions:

Asset

Resources owned or controlled by a business that are expected to produce economic benefits in the future.

Liability Accounts

Accounts on a company's balance sheet that represent the debts or obligations that it owes to others.

Stockholders' Equity

The portion of a company's capital that belongs to its shareholders, represented by the residual assets after deducting liabilities, often referred to as shareholder equity or owner's equity.

Asset Accounts

Accounts that represent resources owned or controlled by a company from which future economic benefits are expected to flow to the company.