Common Law Is Based Upon ____________________

question 9

Multiple Choice

Common law is based upon ____________________.

• A) example rather than principle
• B) precedent established by prior court adjudications
• C) written codes and statutes
• D) Roman heritage

---

Definitions:

Payroll

The total amount of wages, salaries, and other earnings paid by a business to its employees.

Labor Efficiency

The measure of the amount of work accomplished with a specific amount of labor input.

Labor Quantity Variance

The difference between the actual labor hours worked and the standard hours expected, multiplied by the standard labor rate.

Total Labor Variance

The difference between the actual labor costs incurred and the standard labor costs for the actual production achieved.