Which of the Following Statements About Statutes Is True

question 67

Multiple Choice

Which of the following statements about statutes is true?

• A) Statutes only apply when there is no common law covering the situation.
• B) Statutes often summarize or modify canon law.
• C) A statute may be only federal.
• D) Government regulations are considered supreme to statute law.
• E) Statutes are laws created by legislative bodies.

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Definitions:

Dividend Payable

Liability showing amount of cash dividend owed.

Stock Split

Issuing of additional shares of stock to stockholders; total par or stated value remains the same.

Par Value

The face value of a bond or stock, representing the amount to be returned to the bondholder at maturity or the value assigned to a share of stock for accounting purposes.

Stock Split

A corporate action to increase the number of shares, reducing the price per share correspondingly without changing the market capitalization.