Differentiate Among the Three Types of Rules Enacted by Administrative

question 32

Essay

Differentiate among the three types of rules enacted by administrative agencies.Describe the formal and informal rule making process of an agency.

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Definitions:

Government Subsidy

Financial assistance provided by the government to individuals, organizations, or industries to support their operation or reduce the price of their products.

Market Price

The current price at which an asset or service can be bought or sold in the market.

Taxable Income

The portion of income that is subject to taxation by a government, after all deductions and exemptions.

Tax Liability

The total amount of tax that businesses and individuals are legally obligated to pay to the tax authorities based on their income, assets, or transactions.