Last in first out and Law: Difference between pages

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(LIFO).  
1. ''Legal systems.''


1. ''Accounting''.  
The enforceable body of rules that govern any society.


A method of allocating inventory for valuation purposes which assumes that the inventory acquired or produced last is used first.


2. ''Legal systems.''


2.  
One of the individual rules, or classes of rules, making up the body of law.


A method of selecting staff to be made redundant, the most recently joined staff being the first to be selected for redundancy.


3.


== See also ==
A principle or model that appears to have high predictive or descriptive value.
* [[First in first out]]
* [[IAS 2]]
* [[Inventory]]
* [[Redundancy]]
* [[Stock]]
* [[Weighted average cost]]


[[Category:Accounting,_tax_and_regulation]]
For example, the Law of comparative advantage in economics.
[[Category:Liquidity_management]]
 
Or the Law of large numbers in statistics.
 
 
==See also==
*[[Adjudication]]
*[[Antitrust law]]
*[[Arbitration]]
*[[Cartel]]
*[[Case law]]
*[[Civil law]]
*[[Common law]]
*[[Company law]]
*[[Competition law]]
*[[Criminal law]]
*[[Economics]]
*[[Enforcement]]
*[[European Community law]]
*[[Execution]]
*[[Injunction]]
*[[International law]]
*[[Law of comparative advantage]]
*[[Law of large numbers]]
* [[Legislation]]
*[[Public international law]]
*[[Sovereignty]]
*[[State aid law]]
*[[State immunity]]
*[[Suit]]

Revision as of 15:06, 10 March 2021

1. Legal systems.

The enforceable body of rules that govern any society.


2. Legal systems.

One of the individual rules, or classes of rules, making up the body of law.


3.

A principle or model that appears to have high predictive or descriptive value.

For example, the Law of comparative advantage in economics.

Or the Law of large numbers in statistics.


See also