Beaker Company Statement of Financial Position         Beginning Ending    Balance Balance Assets     Cash $50,000 $70,000 Accounts receivable 20,000 25,000 Inventory 30,000 35,000 Plant and Equipment (net) 120,000 110,000 Investment in Cedar Company 80,000 100,000 Land (undeveloped) 170,000 […]

In general, a law is a rule enforceable by the judicial system, while a policy is a written rule—usually within an organization. Policies must comply with the law and are generally (but not always) more detailed than a law. Thus, the Post-Katrina Act (a law) requires the president to create a National Preparedness System. Presidential […]