Civil Proceedings Are Commenced By

question 16

Multiple Choice

Civil proceedings are commenced by:

• A)a Statement of claim.
• B)a Counter claim.
• C)third party proceedings.
• D)a Defence.

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Definitions:

Beginning Balances

The balances of accounts at the start of an accounting period, carried forward from the end of the previous period.

Accounts Receivable

The amount customers are yet to pay a company for goods or services that have already been delivered or performed.

Income Statement

A financial statement that reports a company's financial performance, including revenues, expenses, and profit, over a specific period.

Direct Method

A way of preparing the cash flow statement where actual cash flow information from the company's operations section is used rather than being derived from the income statement.