A Plaintiff Will Be Entitled to Default Judgement in Circumstances

question 27

Multiple Choice

A plaintiff will be entitled to default judgement in circumstances where:

• A)the plaintiff is successful at the Court hearing.
• B)the defendant is successful at the Court hearing.
• C)there is no Court hearing because the debtor has failed to respond to the statement of claim.
• D)the defendant files a defence that is not accepted by the Court.

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Definitions:

Financial Statements

Financial statements are official records that outline the financial activities and condition of a business, entity, or individual, including the balance sheet, income statement, and statement of cash flows.

External Customers

Individuals or entities that purchase goods or services from a business but are not part of the same organization.

Revenue Test

A criterion used to determine whether a particular amount of revenue can be recognized in a company's financial statements.

Profit or Loss Test

An analytical assessment to determine whether a financial transaction or strategy has resulted in financial gain or loss.