What Are Courts and Administrative Agencies Expected to Do in Case

question 38

Multiple Choice

What are courts and administrative agencies expected to do in case they encounter ambiguously worded statutes while deciding a case?

• A) Keep the particular statute aside
• B) Fill in the details on a case-to-case basis
• C) Refer to a different statute
• D) Initiate a debate in the legislature

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Definitions:

EOQ Model

Economic Order Quantity Model; a formula used to determine the optimal order quantity that minimizes total inventory costs.

Annual Ordering Cost

The total expenses associated with placing orders for goods or inventory over the course of a year.

Cost Of Borrowing

The total charge, including interest and any other fees, for obtaining funds from a lender.

Net 50

A payment term that indicates an invoice must be paid in full within 50 days.