The Public Utilities Enterprise Fund Was Ordered by the Court

question 27

Multiple Choice

The Public Utilities Enterprise Fund was ordered by the court to pay environmental damages of $500,000. The fund is to pay $100,000 immediately and the remaining $400,000 in equal installments for next four years. In the year of the judgment, the Enterprise Fund would report

• A) $500,000 in expenses.
• B) $500,000 in liabilities.
• C) $100,000 in expenses.
• D) Nothing. All amounts would be recorded in General Long-term Liabilities accounts.

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Definitions:

Interpretive Rules

Interpretive Rules are administrative agency statements that clarify or interpret existing statutes or regulations but do not have the force of law.

Legislative Rules

Regulations created by governmental bodies empowered to do so, meant to guide the implementation and enforcement of laws.

Constitutional Procedural Safeguards

Legal protections afforded by the Constitution that ensure fair treatment through the judicial process.

Exclusionary Rule

A legal principle that prohibits evidence collected in violation of a defendant's constitutional rights from being used in court.