Explain the Relationship Between Norms and Sanctions

question 5

Essay

Explain the relationship between norms and sanctions. Be sure to discuss the different types of norms and how they correspond to the different kinds of sanctions.

---

Definitions:

Capital Expenditures

Funds used by a company to acquire or upgrade physical assets such as equipment, property, or industrial buildings, to enhance future earnings.

Repairs and Maintenance

Expenditures made to restore or maintain the functionality and efficiency of an asset without extending its useful life significantly.

Net Income

The amount of money a company has earned during a specific period, after all deductions are made.

Ordinary Repairs

Expenses for routine maintenance and repairs that maintain the efficient operation of an asset but do not materially extend its life or increase its value.