Which of the Following Laws Is True Regarding Legal Positivism

question 45

Multiple Choice

Which of the following laws is true regarding legal positivism?

• A) The theory of legal positivism is based on the premise that society's ideas change over time and law should reflect a compromise between the changing, often conflicting, interests of society.
• B) The theory underlying legal positivism is that there is a discoverable set of absolute right and wrong principles upon which our laws should be based.
• C) According to the theory of legal positivism, law derives its status as law from the fact that it has been enacted by the sovereign with the power to enforce his or her wishes.
• D) According to the theory of legal positivism, actual experience is the key to determining what law should be.

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Definitions:

Owner's Capital Account

An equity account on a company's balance sheet representing the owner's invested funds plus the net income minus the withdrawals by the owner.

Closing Entries

A set of journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Revenue Account

An account that tracks the income earned by a company, including sales revenue, services revenue, and interest income.

Adjusted Balances

Balances reported in financial statements that have been modified for any adjustments, like accruals or prepayments, to reflect true values.