Which of the Following Statements Is True Regarding Common Law

question 35

Multiple Choice

Which of the following statements is true regarding common law?

• A) In common law countries, there are generally more statutes written into the laws.
• B) In common law countries, there is less reliance on interpretation by the courts.
• C) Because more details are written into U.S.law, FASB has shorter and more general accounting standards than most countries.
• D) The common law system has its roots in the United Kingdom.

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Definitions:

Legislative-Type Hearing

A hearing that resembles those conducted by legislative bodies, often involving policy or law-making discussions and decisions.

Cross-Examination

The questioning of a witness in a court of law by the party opposing the one who produced the witness.

Administrative Agencies

Government bodies responsible for executing laws, issuing regulations, and overseeing compliance within a specific area or sector.

Executive Branch

The branch of government responsible for enforcing laws and managing the affairs of a state or nation, typically headed by a president or prime minister.