Which Type of Law Regulates the Rights and Duties Between

question 39

Multiple Choice

Which type of law regulates the rights and duties between parties?

• A)criminal law
• B)administrative law
• C)civil law
• D)judicial law

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Definitions:

End-of-Period Spreadsheet

A financial summary prepared at the close of an accounting period, emphasizing the consolidation and reporting of financial results and activities.

Depreciation Expense

Distributing the expense of a physical asset across its lifespan, representing the reduction in its worth as time progresses.

Unearned Revenue

Money received by a company for products or services that have not yet been delivered or completed, considered a liability until the revenue is earned.

Adjusting Entries

Journal entries made in accounting to update the records for expenses and revenues that have accrued but are not yet recorded.