Which of the Following Best Exemplifies a Protective Element of Canadian

question 6

Multiple Choice

Which of the following best exemplifies a protective element of Canadian law?

• A) It seeks to make those who break the law accountable.
• B) It sets rules in order to encourage complexity.
• C) It sets rules in order to encourage complacence.
• D) It provides rules that prohibit making commitments.

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Definitions:

Cash Receipts Journal

A specialized accounting journal used to record all cash inflows or cash received by an organization.

Prepaid Insurance

An asset account representing insurance paid in advance, which will be expensed over the period it benefits.

Fees Earned

Income or revenue generated through providing services.

Creditor's Account

An account maintained to record transactions involving credit purchases or loans received, indicating the amount owed to suppliers or lenders.