All of the Following Are True of the President's Cabinet

question 12

Multiple Choice

All of the following are true of the president's cabinet EXCEPT

• A) originally, it consisted of only four officials.
• B) they usually have some experience in the area of the cabinet position.
• C) they are heads of executive departments.
• D) it is thoroughly detailed in the Constitution as to what the cabinet should do.
• E) the cabinet is an advisory group selected by the president to aid in making decisions.

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Definitions:

Book Value

The net value of a company's assets minus its liabilities, often used to assess the value of a company's shares.

Common Stock

Stocks are financial instruments indicating partial ownership in a firm, granting the holder the right to vote on corporate matters and to earn from the company's earnings via dividends.

Net Income

The total earnings of a company after subtracting all expenses, including taxes, from its total revenues.

Purchased Goodwill

The premium paid over the fair value of identifiable net assets during the acquisition of a company, reflecting intangible assets like brand reputation or customer loyalty.