In 2008 an Initiative to "Eliminate the Right" of Same-Sex

question 37

Multiple Choice

In 2008 an initiative to "eliminate the right" of same-sex couples to marry

• A)won majority approval.
• B)was overturned by the California state supreme court.
• C)was endorsed by San Francisco Mayor Gavin Newsom.
• D)failed to qualify for the ballot.

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Definitions:

Allowance for Doubtful Accounts

An estimation of the amount of credit sales that are expected not to be collected, representing a reserve for potential bad debts.

Notes Receivable

Legally enforceable claims for money owed to a business by its customers or clients, typically evidenced by a written promise to pay.

Formal Instruments of Credit

Legal documents that acknowledge debt and specify terms of repayment, such as notes payable or bonds.

Accounts Receivable Turnover

A financial ratio that measures how efficiently a company collects revenue by comparing net credit sales to the average accounts receivable.