Examlex
For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
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Competition Bureau
A government agency responsible for enforcing antitrust or competition laws to prevent monopolistic practices and maintain fair competition in the market.
Sale of Goods Act
Legislation that governs the sale of goods, defining obligations, rights, and warranties between buyers and sellers.
Fit for Purpose
The standard that ensures a product or service meets its intended use and satisfies customer requirements.
Breach of Contract
The failure to perform any term of a contract, written or oral, without a legitimate legal excuse.
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