When the Organization in Charge of Proposing Uniform Laws Proposes

question 60

Multiple Choice

When the organization in charge of proposing uniform laws proposes a statute,which of the following is true?

• A)A state legislature is not required to adopt the uniform statute;but if the state legislature decides to go forward with adoption,all portions of the statute must be adopted.
• B)The uniform statute automatically goes into effect without any action by state legislatures.
• C)A state legislature can ignore the proposed uniform law,adopt it in full,or adopt it in part.
• D)All states must adopt the uniform statute within one year.
• E)All states must adopt the uniform statute within six months.

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Definitions:

Variable Expenses

Costs that change in proportion to the level of business activity or production volume.

Fixed Expenses

Fixed expenses are costs that do not change in the short term regardless of the level of production or sales, such as rent, salaries, and insurance premiums.

Margin Of Safety

The excess of budgeted (or actual) dollar sales over the break-even dollar sales.

Variable Expenses

Expenses that fluctuate based on the level of a company's operations.