The American Version of Representative Democracy Is Based on Two

question 76

Multiple Choice

The American version of representative democracy is based on two major principles: and __________.

• A)separation of powers;federalism
• B)unicameralism;federalism
• C)judicial review;federalism
• D)party government;federalism
• E)None of these choices is true.

---

Definitions:

Current Liability

An obligation due to be paid within a year, including accounts payable, short-term loans, and other similar debts.

Notes Payable

Financial obligations represented by promissory notes, where the borrower agrees to pay back a specified sum of money on demand or at a determined future date.

Prepaid Expenses

Expenses paid in advance by a company for goods or services to be received in the future.

Adjusting Process

The procedure used in accounting to record and reconcile expenses and revenues in the appropriate accounting period.