When the Key Facts of the Court Opinion and the Key

question 17

True/False

When the key facts of the court opinion and the key facts of the client's case are not similar, if the substitution of the key facts would not result in changing the outcome of the case, the court opinion can be used as precedent.

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Definitions:

Supplies

Materials or items which are used in the operation of a business or needed in the production process.

Services

Economic activities that are intangible, are not stored, and do not result in ownership transfer from the service provider to the service receiver.

Double-Entry

An accounting principle where every transaction is entered twice, as a debit in one account and a credit in another, to keep the accounting equation balanced.

Accounting Equation

The fundamental principle of accounting that represents the relationship between assets, liabilities, and owner's equity: Assets = Liabilities + Owner's Equity.