Which of the Following Is Correct with Respect to the Role

question 136

Multiple Choice

Which of the following is correct with respect to the role of statutes in our legal system?

• A)Only the federal Parliament may enact statutes.
• B)In Canada,most new laws follow the Civil Code legal system.
• C)Where a properly passed provincial statute is in conflict with a well-established common law principle,the statute will be void.
• D)Once a statute has been interpreted and applied in a court,a subsequent judge in a lower court is not required to follow that decision if he or she disagrees with it.
• E)A statute,if it is clear and concise and properly passed,will always override common law and equity.

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Definitions:

Net Income

The total earnings of a company after all expenses and taxes have been deducted from total revenue.

ROA

Return on Assets, a financial ratio indicating the profitability of a company relative to its total assets.

ROA

Return on Assets, an indicator of how profitable a company is relative to its total assets, illustrating how efficiently a company is using its assets to generate earnings.

DSO

Days Sales Outstanding refers to the average period a company requires to receive payment following a sale.