Under the Articles of Confederation, Which of the Following Headed

question 60

Multiple Choice

Under the Articles of Confederation, which of the following headed Congress?

• A) No one
• B) A presiding officer selected from among its members
• C) A popularly elected president
• D) A president chosen by the Electoral College
• E) A three-person presiding cabinet

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Definitions:

Liabilities

Obligations of a company or organization due to past transactions or events, resulting in the future sacrifice of economic benefits.

Stockholders' Equity

The ownership interest of shareholders in the assets of a corporation, after all liabilities have been subtracted.

Accounts Payable

The amounts owed by a business to its suppliers or creditors for goods and services received, representing short-term liabilities.

Accounts Receivable

Funds that are due to a company from its clients for the delivery of goods and services which payment is pending.