When a Case for Which There Is No Precedent Comes

question 4

Multiple Choice

When a case for which there is no precedent comes before it, a court can

• A) look to the decisions of courts in England.
• B) consider the morals of society.
• C) use the dicta of other cases as support for its decision.
• D) All of the above are true.

Identify operational improvement measures in manufacturing.

Understand lean manufacturing principles and their application.

Calculate equivalent units of production and cost per equivalent unit.

Recognize the role of direct materials, direct labor, and applied overhead in product costing.

---

Definitions:

Accounts Receivable

Accounts receivable from customers for delivered goods or services awaiting payment.

Credit Customer

A customer who purchases goods or services on credit, agreeing to pay the seller at a later date.

Accounts Receivable

The money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Credit to Cash

A transfer or accounting entry that increases the cash balance while simultaneously increasing a corresponding credit account.