Which of the Following Is an Advantage That Self-Regulatory Agencies

question 103

Multiple Choice

Which of the following is an advantage that self-regulatory agencies such as the BBB and the NARB have over governmental laws and regulatory agencies?

• A) Firms must strictly abide by the rulings of self-regulatory agencies.
• B) Establishment and implementation are usually less expensive.
• C) They have better tools to enforce their rulings.
• D) Guidelines are often stricter and create greater compliance from firms.
• E) Money is very rarely an issue in enforcing decisions of self-regulatory agencies.

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Definitions:

Expired Insurance

The portion of an insurance premium that has been used up during the term of the policy and is therefore no longer in effect.

Assets

Resources owned by a company, providing future economic benefits, including cash, inventory, and property.

Inadvertently Omitted

Accidentally left out or not included, typically referring to information or details that were missed unintentionally.

Depreciation Expense

The allocation of the cost of a tangible fixed asset over its useful life, reflecting the decrease in value over time.