While NPC is not in session, the Standing Committee of NPC is also in charge of supplementing and amending parts of the laws promulgated by NPC, yet this should not contradict with the basic principles of these laws. The State Council can make administrative regulations according to the constitution and laws. NPC and its Standing Committee have the right to make decisions and authorize the State Council to formulate administrative regulations for matters which should but not yet governed by law, depending on the actual needs.
However, this does not include matters concerning crimes, punishments, coercive measures for depriving citizens’ political rights and restricting their personal freedom, the punishment system and the judicial system. The decision on authorization should make clear the purpose and the scope of authorization. The authorized organs should exercise the power in strict accordance with the purpose and the scope of authorization, and shall not transfer the authorized power to other organs.
When conditions are mature, after test in the practice, NPC and its Standing Committee should make a law in time. When the law is made, the authorization for the corresponding legislative matters comes to its end. The Provincial People’s Congress, as well as its Standing Committee, can formulate local regulations reflecting the specific circumstances and the actual needs within their administrative areas, on the precondition that these local regulations do not contradict to the Constitution, the laws and the administrative regulations.
In larger cities, the People’s Congress and its Standing Committee can formulate local regulations reflecting the city’s specific circumstances and actual needs, on the precondition that these local regulations do not contradict to the Constitution, the laws, the administrative regulations, and the regulations of the local province and autonomous region. These local regulations must be submitted to the Standing Committee of the Provincial People’s Congress for approval before they are enforced.
The Standing Committee of Provincial People’s Congress must examine these local regulations which are submitted for approval. If they do not contradict to the Constitution, the laws, the administrative regulations, and the regulations of the local province and autonomous region, they should be approved within four months. The larger cities, as called here, refer to capitals of all provinces or autonomous regions, cities where special economic zones are located, and other larger cities designated by the State Council.
In ethnic minority areas where autonomy is practiced, the People’s Congress has the right to formulate autonomy statutes and separate regulations according to the characteristics of the local people’s politics, economy and culture. These autonomy statutes and separate regulations must be submitted to the Standing Committee of NPC for approval before they take effect. The autonomy statutes and separate regulations of autonomous prefectures and autonomous counties must be submitted to the standing committee of the People’s Congress of the local province, autonomous region or municipality for approval before they take effect.
The autonomy statutes and separate regulations can make changes to some provisions of laws and administrative regulations according to local characteristics. However, the changes must not go against the basic principles of laws or administrative regulations, nor make any changes to the Constitution, the laws on national regional autonomy, as well as specific provisions concerning autonomy in other relevant laws and administrative regulations.
acct 1 merchandising
Continuing with the company you selected (Apple) pls advise me of the following
1.Based on the information contained in pages 307 and 308 calculate the asset turnover for the 2 quarters
Is a higher asset turnover good or bad or are you going to say it depends and why. Make sure you show the actual revenue and assets in your calculation
2. What % is your company’s inventory in relationship to the total assets in latest qtr-pls identify the quarter you are using