All of the Following Statements Concerning the Power of Judicial

question 85

Multiple Choice

All of the following statements concerning the power of judicial review are true EXCEPT this one:

• A) It was claimed for the Supreme Court in the case of Marbury v. Madison.
• B) The Supreme Court has used the power very infrequently against acts of Congress.
• C) It is not mentioned in the Constitution.
• D) It includes the powers to declare acts of government unconstitutional and to interpret the meaning of all federal and state laws.
• E) It was used only once before 1857.

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Definitions:

Insurance Expense

The cost incurred by an entity to obtain insurance coverage, recognized as an expense over the period the insurance protection is provided.

Retained Earnings

The portion of net income not distributed as dividends but retained by the company to reinvest in its core business or to pay debt.

Adjusted Trial Balance

An adjusted trial balance is a list of all the accounts of a company, including any adjustments, showing the final balances to be used for preparing financial statements.

Income Statement

Financial statement that displays a company’s revenues and expenses, and ultimately its profit or loss, over a particular period, offering insight into its operational efficiency.