Why Does the Law Need to Be Interpreted

question 68

Multiple Choice

Why does the law need to be interpreted?

• A)Legal writing is usually in Latin.
• B)Legal writing is deliberately designed so that it cannot be understood by persons other than legal professionals.
• C)Legal writing is often difficult to read and understand because it is frequently very formal, full of legal terminology and sometimes uses out-dated vocabulary.
• D)Legal writing is always concise, simple, organised, clear and unambiguous.

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Definitions:

Accumulated Depreciation

This accounts for the total depreciation expenses charged against a fixed asset since it was put into use, reflecting the decrease in value of the asset.

Income Summary

An account used in the closing process that summarizes revenues and expenses for a period, determining the net income or loss.

Owner's Drawings

Withdrawals made by the owner of a business from the company's funds for personal use.

Owner's Equity Accounts

Accounts reflecting the owner's investment in the business plus any profits retained in the business, minus any withdrawals made.