What Is the Term for a Law, Rule, Statute, or Edict

question 78

Multiple Choice

What is the term for a law, rule, statute, or edict that expresses the government's goals and often incorporates rewards and punishments to promote their attainment?

• A)executive order
• B)public policy
• C)preamble
• D)popular mandate

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Definitions:

Gain

The increase in the economic value or benefit that an entity receives, usually from the sale of assets or from other transactions exceeding the costs or expenses associated with it.

Straight-Line Method

A method of calculating depreciation of an asset which assumes the asset will lose an equal amount of value each year over its useful life.

Salvage Value

The estimated residual value of an asset at the end of its useful life, reflecting the amount it could be sold for or its disposal value.

Useful Life

The expected duration of time over which an asset is anticipated to be economically usable by one or more users.