A Court Decision Upon Which Courts Later Rely in Similar

question 19

Multiple Choice

A court decision upon which courts later rely in similar cases is known as a(n) ______.

• A) precedent
• B) example
• C) judicial review
• D) statutory review

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Definitions:

Liability

A financial obligation or debt owed by a business to an external entity that must be repaid.

Accounts Payable

A current liability account that represents amounts owed by a business to creditors for purchases or services received.

Office Supplies

Items such as pens, paper, and other materials used for daily operations in an office setting.

Accounts Receivable

Debts owed by customers to a business for goods or services already provided but unpaid.