If a Statute Is Drafted in a Manner That Is

question 45

True/False

If a statute is drafted in a manner that is ambiguous with respect to the type of agency rule making required,a court will interpret the rule as requiring formal rule making.

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Definitions:

Pretax Income

The income a company generates before income taxes are deducted, also known as earnings before tax (EBT).

Variable Costing

An accounting method that only allocates variable costs to production, treating fixed costs as period costs that are charged to expense as they are incurred.

Fixed Overhead Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, and must be paid regardless of the business activity level.

Product Costs

Costs that are directly associated with the production of goods or services.