Explain the concepts of legal positivism, natural law, and legal realism as they relate to the field of jurisprudence.
What will be an ideal response?
Legal positivism simply means that the law is what the sovereign says it is. The sovereign is the recognized political power whom citizens obey, so, in the United States, both the state and federal governments are sovereign. Therefore, whatever the sovereign declares to be the law is the law, regardless of whether it is right or wrong.?Natural law stems from the belief that the law must have a moral basis. Therefore, an unjust law is no law at all and need not be obeyed.?Legal realism says that it does not matter what is written as law; what counts is who enforces that law and by what process. Personal characteristics and biases influence this determination.??
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Which statement is true concerning gains and losses?
a. Gains and losses are reported on the balance sheet in the Assets and Liabilities sections, respectively. b. Gains and losses are special types of revenues and expenses that are reported on the income statement. c. The amounts of gains and losses are included in the calculation of the current ratio, in the numerator and denominator, respectively. d. Gains and losses are reported only on a multi-step income statement.
According to Maslow's hierarchy of needs theory, social need refers to:
A. the need to feel connected to others. B. the need to realize one's fullest potential. C. the need for self-respect and recognition. D. the need for basic survival.
The development of a garlic-butter flavored crescent rolls by Pillsbury would not be considered a new product since the company was already making crescent rolls. It would simply be called a line extension.
Answer the following statement true (T) or false (F)
An auditor wishes to perform tests of controls on an entity's cash disbursements procedures. If the control activities leave no audit trail of documentary evidence, the auditor most likely will test the procedures by
A. Inquiry and analytical procedures. B. Confirmation and observation. C. Observation and inquiry. D. Analytical procedures and confirmation.