Which of the Following Is the Most Usable Definition of Law

question 67

Multiple Choice

Which of the following is the most usable definition of law?

• A)It is most useful to us to define law in terms of what we think people ought to do.
• B)We must define law in terms of what people used to do.
• C)We must define law in terms of what the courts or other agents of government will enforce.
• D)We must define law in terms of what society needs people to do.
• E)It is most useful to us to define law in terms of what people do.

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Definitions:

Cost Price

The total cost incurred to produce or purchase an item before any markup or selling expenses are added.

Operating Expense

Expenditures that a business incurs through its normal business operations.

Operating Profit

Earnings before interest and taxes (EBIT), representing the profit a business makes from its operations.

Selling Price

The amount for which a product or service is sold to the customer.