The Three Major Methods of Judicial Selection Include _____, Judicial

question 25

Short Answer

The three major methods of judicial selection include _____, judicial elections, and merit selection.

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Definitions:

Sunk Cost

A cost that has already been incurred and cannot be removed and therefore should not be considered in an investment decision.

Straight-Line Depreciation

A method of allocating an asset's cost evenly over its useful life, resulting in a consistent depreciation expense each year.

Operating Costs

Expenses associated with the day-to-day functions of a business, excluding costs related to production or acquisition of goods.

Rate of Return

The percentage gain or loss on an investment over a specified time period.