Which of the Following Statements Is TRUE

question 53

Multiple Choice

Which of the following statements is TRUE?

• A)A lawsuit may be brought against human beings,corporations,and any unincorporated associations.
• B)A young child who is sued will be represented by an adult who acts in parens patriae.
• C)In order to sue in Canadian courts,a person must either be a Canadian citizen or be represented by a lawyer who is a Canadian citizen.
• D)Trade unions sometimes can sue or be sued even though they are unincorporated associations.
• E)Foreign corporations,like Canadian corporations,have an absolute right to sue in Canadian courts.

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Definitions:

Units-Of-Output Depreciation

A depreciation method that allocates an asset's cost based on its usage or production levels, rather than simply the passage of time.

Depreciable Cost

The total cost of a tangible asset that is subject to depreciation, excluding salvage value, to allocate over the asset's useful life.

Depreciation Rate

The percentage rate at which an asset is depreciated across its useful life, affecting the value of the asset on the balance sheet over time.

Straight-Line Method

A method of calculating depreciation by dividing the cost of an asset, minus its salvage value, by its useful life.