Formal Law and Legal Processes Cannot Exist Without

question 8

Multiple Choice

Formal law and legal processes cannot exist without:

• A) professional lawyers
• B) impartial judges
• C) the presence of centralized authority
• D) an elected legislature

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Definitions:

Target Cash Balance

The ideal amount of cash that a business aims to maintain to handle day-to-day operations and contingencies.

Transaction Needs

Describes the demand for money for the purpose of conducting daily transactions, such as purchasing goods and services.

Disbursement Float

The time lag between when a check is written and when it is actually deducted from the payer's account.