Which One of the Following Is Not Generally Recognized as a Source

question 73

Multiple Choice

Which one of the following is not generally recognized as a source of the common law?

• A) The law of equity
• B) The law merchant
• C) Local British customs and traditions
• D) Roman civil law
• E) Church (or canon) law

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity.

Company's Management

Individuals responsible for directing and controlling a company's operations and policies to achieve its business objectives.

Auditors

Professionals who examine and verify a company's financial records and statements for accuracy and adherence to accounting standards.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, ending with net income or loss.