Match Each Word with Its Definition

question 2

Multiple Choice

Match each word with its definition.
-Reversed.

• A) This indicates that the court has agreed with the decision of a lower court in respect of the same case.
• B) This indicates that the court regards itself as bound by an earlier decision and has therefore employed the same reasoning in this case.
• C) This indicates that the higher court believes that the lower court correctly decided the case.
• D) This indicates that the court has considered and discussed the earlier cases, but has not applied it in the strict sense of the word.
• E) This indicates that the court does not regard itself as bound by an earlier decision because it states that the previous case is in some way different to the current one. The court has therefore not followed the earlier case, nor has it overruled it.
• F) This indicates that the court has considered the decision of the previous court (at the same level or lower than itself) and has rejected or invalidated that earlier decision.
• G) This means the opposite of 'affirmed'. It indicates that the court has considered the decision of the previous court (at the same level or lower than itself) and has decided that the previous court reached the wrong decision.

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Definitions:

Partial Equity Method

An accounting approach where an investor recognizes income from its investment in an associate to the extent of dividends received, differing from the full equity method which recognizes income as it's earned by the associate, regardless of dividends received.

Fair Value

The exchange value of an asset or the settlement cost of a liability in a well-arranged transaction with participants in the market on the measurement occasion.

Book Value

The net value of a company's assets minus its liabilities, often used as a measure of the company's worth.

Equipment

Tangible property used in the operation of a business that is not intended for sale, including machinery, tools, and vehicles.