DECA Accounting Applications(ACT)

Case Law

Primary source of law and is derived from previous court cases.

Constitutional Law

The supreme law of the land and is derived from the U.S Constitution.

Uniform Law

Laws designed to address issues such as trade and commerce. These laws provide legal consistency and uniformity for states that utilize them.

Statutory Laws

Laws created by the United States Congress

Product Trade Name Franchise

An independent sales relationship between a supplier and a buyer on the stocking and selling of an exclusive line of products

Temporal Reasoning

Reasoning that considers the timing of a financial transaction or process.

Collection Letter

A type of persuasive message used by businesses to address delinquent customers on their outstanding payments and debts to encourage payment and maintain customer relationships.

Unity of Command

An organizational principle in which no employee can answer to more than one supervisor.

Scalar Principle

An organizational principle that says authority should be a clear unbroken line between top and bottom.

Hedge Fund

A pooled investment fund that uses aggressive investment strategies in order to maximize returns

Transference

A risk response strategy in which a person shifts the impact of risk to someone or something else