Which of the Following Is True of Restatements

question 11

Multiple Choice

Which of the following is true of Restatements?

• A) They are promulgated by courts.
• B) They can be adopted as common law by the states.
• C) They include only statutory laws.
• D) They are law and can bind courts.

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Definitions:

Capital Account Balances

The amounts recorded in the capital account of a company or individual, reflecting initial investment plus retained earnings minus any withdrawals.

Liquidating

The process of converting assets into cash or cash equivalents by selling them.