The Time Span Between Recognition of the Need for a Policy

question 99

Multiple Choice

The time span between recognition of the need for a policy change and the legislation being signed into a law is known as:

• A)​signal lag.
• B)​implementation lag.
• C)​impact lag.
• D)​recognition lag.

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Definitions:

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account. It is positioned on the left in an accounting entry.

Credit

An accounting entry that increases a liability or equity account or decreases an asset or expense account, reflecting the opposite of a debit.

Basic Accounting Equation

Assets = Liabilities + Stockholders’ Equity.

Assets

Resources owned by a business or individual that have economic value and can be converted into cash.