The Correct Heading on a Statement of Financial Position Made

question 44

Multiple Choice

The correct heading on a statement of financial position made up to 30 June 2014 is:

• A)As at 30 June 2014
• B)For the year ended 30 June 2014
• C)For the period ended 30 June 2014
• D)30^th June 2014

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Definitions:

Res Ipsa Loquitur

Res ipsa loquitur is a legal doctrine that allows a presumption of negligence to be established based on the mere occurrence of certain types of accidents, without the need for direct evidence of a defendant's behavior.

Negligence Per Se

A legal doctrine where an act is considered negligent because it violates a statute or regulation, thereby causing harm to a person that the statute was designed to protect.

Assumption of Risk

A legal doctrine stating that an individual knowingly and voluntarily assumes the risk of an activity, thereby relieving another party from liability for harm caused during the activity.

Assumption of the Risk

A defense in tort law where the plaintiff is considered to have voluntarily assumed the risks of a known hazard, diminishing the defendant's liability.