When Congress Passes a Statute with Language Such As, "The

question 30

Multiple Choice

When Congress passes a statute with language such as, "The Secretary shall prescribe such regulations as he may deem necessary," the regulations ultimately issued for that statute are

• A)congressional regulations.
• B)statutory regulations.
• C)interpretative regulations.
• D)legislative regulations.

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Definitions:

Consolidated Balance

Refers to the presentation of assets, liabilities, and equity in a single balance sheet that combines the financials of a parent company with its subsidiaries.

Parent

In corporate finance, refers to a company that holds a controlling interest in one or more subsidiary companies.

Subsidiary

A corporation that is governed by another corporation, referred to as the parent company, by possessing over 50% of its voting shares.