In the Context of Delegation of Quasi-Legislative Authority,courts Can Interfere

question 103

True/False

In the context of delegation of quasi-legislative authority,courts can interfere with the discretion given to an agency and can substitute their judgment for that of the agency.

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Definitions:

Board Of Directors

A collection of persons chosen by the shareholders to supervise the corporation's management and make significant decisions on its behalf.

Chief Executive Officer

The highest-ranking executive in a company, responsible for making major corporate decisions, managing the overall operations and resources of a company.

Measurement (Cost) Principle

A principle that states accounting information is based on actual cost incurred in transactions, which includes the initial purchase price plus any additional costs necessary to get the asset ready for use.