Which of the Following Terms Stands for the Philosophy of Law

question 44

Multiple Choice

Which of the following terms stands for the philosophy of law?

• A)Canon
• B)Jurisprudence
• C)Equity
• D)Mandate

---

Definitions:

EOQ Model

Economic Order Quantity Model; an inventory management formula that determines the optimal order quantity to minimize total inventory costs.

Collection Policy

The guidelines and procedures that a company follows to collect accounts receivables from its customers, including the timeline and actions for overdue payments.

Average Collection Period

The average number of days it takes for a company to receive payments owed by its customers, indicating the efficiency of a company's credit and collection policies.

Net Float

The difference between checks written against and deposited in an account, not yet cleared by the financial institution.