According to the Constitution, in Order for a Candidate to Be

question 53

Multiple Choice

According to the Constitution, in order for a candidate to be elected president, the candidate

• A) must receive a majority of the popular vote.
• B) must receive a majority of the popular vote and a majority of votes in the Electoral College.
• C) must receive a majority of votes in the Electoral College and a majority of votes in the Senate.
• D) must receive two-thirds of the votes in the Electoral College.
• E) must receive a majority of votes in the Electoral College.

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Definitions:

Prepaid

Expenses that are paid for in advance of receiving the benefit, often recorded as assets until the expense is incurred.

Equipment Rent

The cost incurred by a company for using equipment owned by another entity for a specified period.

Service Contract

An agreement between a customer and a service provider detailing the terms of service delivery, including scope, quality, and responsibilities.

Adjusting Journal Entry

A financial transaction recorded at the closure of an accounting cycle to properly assign earnings and expenses to the corresponding period.