During Recent Proceedings, a Member of Parliament Stood in the House

question 61

True/False

During recent proceedings, a member of Parliament stood in the House of Commons and made an outrageously defamatory statement about the prime minister.The prime minister will not be able to successfully sue for the tort of defamation because the statement in question is protected by the defence of absolute privilege.

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Definitions:

Negative Goodwill

A financial situation where the price paid for an acquisition is less than the fair market value of its net tangible assets.

Note Payable

A written promise to pay a certain amount of money, often with interest, by a specific date, recognized as a liability in the borrower's financial statements.

Consolidated Statement

A financial statement that aggregates the financial position and results of operations of a parent company and its subsidiaries as a single entity.

Push-down Accounting

An accounting method used in situations of acquisitions, where the financial statements of the acquired company are restated to reflect the acquirer's basis of assets and liabilities.