The Lieutenant Governor Serves as Acting Governor When the Governor

question 26

Multiple Choice

The lieutenant governor serves as acting governor when the governor is

• A) out of the state.
• B) running for president.
• C) in a major dispute with the legislature.
• D) the candidate of a third party.

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Definitions:

Boot

Additional value or cash added to a transaction to even out an exchange or transfer of assets.

Fixed Asset

A fixed asset is a long-term tangible piece of property or equipment that a company owns and uses in its operations to generate income, not easily converted into cash.

Intangible

An intangible asset is an asset that lacks physical substance, such as intellectual property, goodwill, and licensing agreements.

Amortization

The process of spreading the cost of an intangible asset over its useful life, recognizing a portion of the expense each accounting period.