The Political Process Does Not Guarantee Equal Influence for Groups

question 26

Essay

The political process does not guarantee equal influence for groups with competing influence.How might a group with little resources influence policy outcomes?

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Definitions:

Probable Loss

An estimated loss from a contingent liability that is likely to occur and can be reasonably estimated.

Reasonably Possible

Describes a level of likelihood that something might occur, under consideration in areas like assessments of contingent liabilities.

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures used in the compilation of financial statements.

IFRS

Stands for International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to bring consistency to financial reporting around the world.