The Rules, Regulations, Orders, and Decisions Issued by Administrative Agencies

question 6

Multiple Choice

The rules, regulations, orders, and decisions issued by administrative agencies of government, such as the Federal Trade Commission and the Environmental Protection Agency, are collectively called

• A) civil law.
• B) common law.
• C) case law.
• D) constitutional law.
• E) administrative law.

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Definitions:

Operating Profit

Earnings derived from a corporation's principal operations, before subtracting interest and taxes.

Cash Discount Rate

A reduction on the invoice price offered by sellers to encourage prompt payment from the buyer.

Invoice

A detailed bill provided by a seller to a buyer, listing the products or services sold and the total amount due.

Outstanding Invoices

Unpaid invoices that represent the amount due from buyers to sellers, not yet collected.