Because Private Causes of Action Have Proved to Be Inadequate

question 68

True/False

Because private causes of action have proved to be inadequate to recompense and prevent environmental damage, the federal, state, and local governments have enacted statutes designed to protect the environment.

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Definitions:

Discount on Bonds Payable

The amount by which a bond's selling price is less than its face value.

Bonds Payable

Long-term liabilities representing the amount a corporation owes to bondholders by a specified maturity date.

Contract Rate

The agreed-upon interest rate specified in a contractual agreement, such as a loan or bond.

Market Rate

The prevailing interest rate available in the marketplace on investments or loans.