The Phrase 'Division of Power' Refers To

question 19

Multiple Choice

The phrase 'division of power' refers to:

• A)The separation of legislative, executive and judicial power within each level of government.
• B)The notion that laws are made by the legislature, administered by the executive and interpreted by the judiciary.
• C)The separation between the three arms of government.
• D)The division of law-making power between the Federal government and various State governments.

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Definitions:

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from total revenue, indicating the efficiency of a company in managing its production and labor costs.

Net Sales

The amount of sales revenue remaining after deducting returns, allowances, and discounts from total sales.

Cost Of Goods Sold

Cost of goods sold (COGS) is the direct cost attributable to the production of the goods sold by a company, including the cost of materials and labor.

Gross Profit

The financial gain a company achieves after subtracting the cost of goods sold from its total revenue.