A Court Will Interpret a Rule as Requiring Formal Rule

question 67

True/False

A court will interpret a rule as requiring formal rule making, if a statute is drafted in a manner that is ambiguous with respect to the type of agency rule making required.

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Definitions:

Sales

The transactions involving the exchange of goods or services for money, representing a critical source of revenue for businesses.

Net Income

This is the amount of profit left after all operating expenses, taxes, and interest are deducted from total revenues.

Taxes

Mandatory financial charges or levies imposed by a government on individuals or entities to fund public expenditures.

Debt Ratio

A financial ratio that compares a company's total debt to its total assets, indicating the proportion of assets financed with debt.