Which Section of a Legal Memorandum Contains a Concise Statement

question 30

Multiple Choice

Which section of a legal memorandum contains a concise statement of all relevant and explanatory information?

• A) Facts
• B) Issue statement
• C) Discussion/analysis
• D) Conclusion

---

Definitions:

Journal Entry

A record of financial transactions in the accounting books of a business, indicating the accounts affected and the amounts.

Credits

Refers to the accounting entries that increase liabilities or decrease assets, representing the opposite effect of debits in double-entry bookkeeping.

Liability Accounts

Accounts on a balance sheet that represent obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.

Stockholders' Equity Accounts

These accounts represent the owners' residual interest in the corporation's assets after deducting liabilities.