Saying That Policymaking Involves Causal Stories Means That Policymakers Must

question 25

Multiple Choice

Saying that policymaking involves causal stories means that policymakers must

• A)explain to the public why a specific policy will be effective.
• B)offer a story that explains the cause of a troubling condition in a way that will encourage the public to favor the policymakers' interpretation.
• C)work hard to maintain their reputation as honest and trustworthy.
• D)work closely with the media so that their interpretation of a situation will gain wide publicity.

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Definitions:

Cost Flow Assumption

A method adopted by businesses to value inventory and determine the cost of goods sold, such as FIFO (First In, First Out) or LIFO (Last In, First Out).

FIFO

"First In, First Out," an inventory valuation method assuming that the first items purchased are the first ones sold, affecting the cost of goods sold and ending inventory value.

Specific Identification

An accounting method used for inventory costing, where each item in inventory is identified and its cost is individually recorded.

LIFO

"Last In, First Out," a method of inventory valuation where the most recently produced or acquired items are the first to be expensed.