Which of the Following Is a Problem with a Professional

question 55

Multiple Choice

Which of the following is a problem with a professional civil service?

• A) There is no way to ensure the hiring of competent individuals knowledgeable about government programs.
• B) The political parties can exercise undue influence over bureaucrats because of budgetary needs.
• C) The rules designed to protect career bureaucrats from political retaliation make it difficult to punish them for shirking or incompetence.
• D) The high levels of turnover hinder the effective implementation of public policies because of a lack of institutional memory concerning best practices.

Describe the implications of selecting the fair value option for accounting for equity method investments and the criteria for impairment of goodwill.

Understand the fundamental principles of acquisition accounting and the preparation of consolidated financial statements.

Grasp the concepts of amortized cost, fair value measurement, and impairment of financial instruments.

Differentiate between trading, available-for-sale, and held-to-maturity debt securities and their accounting treatment.

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Definitions:

Common-Law Negligence

Refers to the failure to act with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to unintended harm to others.

Legal Duty

Refers to an obligation imposed by law upon an individual to act or refrain from acting in a certain manner.

Proximately Caused

A legal principle that limits the damages a plaintiff can recover to those which are directly related to the defendant's actions.

Proximate Cause

A legal concept that links a defendant’s conduct with the plaintiff's injury or damage, establishing liability based on the foreseeability of the harm.