In Whalen V

question 227

Multiple Choice

In Whalen v. Union Bag & Paper Co., where a paper mill polluted a farmer's creek so he sued to stop the pollution, the court held that:

• A) enjoining the defendant from polluting would cause too great an economic loss
• B) the plaintiff contributed his negligence and so could not sue the defendant
• C) the riparian rights of the defendant outweighed the rights of the plaintiff
• D) because the defendant acted without malice, no riparian rights were violated
• E) none of the other choices

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Definitions:

Consistent Application

The principle that companies should apply accounting policies uniformly throughout reporting periods to ensure comparability of financial statements over time.

Comparability

A financial accounting concept that ensures financial statements can be compared between periods and with other companies.

Company

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.