A Property Based Legal System

question 71

Multiple Choice

A property based legal system:

• A) is unimportant in Western legal systems.
• B) protects and assists the wealthy over the poor.
• C) applies only to common property or resources like land that more than one individual owns jointly.
• D) does not allow for the transfer of private resources.
• E) allows people to exclude others from interfering with what their efforts produce.

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Definitions:

Diluted Earnings Per Share

A calculation of earnings per share that includes potential shares from convertible securities, providing a "worst-case" scenario of earnings per share.

Basic Earnings

The amount of profit attributable to shareholders before deductions for preferred dividends, calculated on a per-share basis.

Continuing Operations

The portions of a business’s activities expected to continue for the foreseeable future, as opposed to activities that are being discontinued or phased out.

Loss

A financial term referring to the situation where expenses exceed revenues, leading to negative profit.