The Short, 2-Year Terms in the House of Representatives Were

question 60

Multiple Choice

The short, 2-year terms in the House of Representatives were designed by the Framers of the Constitution to ______.

• A) make the Senate the more powerful of the two houses
• B) keep the House as close to the people as possible
• C) keep the House subordinate to the other branches of government
• D) ensure that incumbents would always have an advantage

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Definitions:

Analyzing Business Transactions

The process of reviewing, categorizing, and interpreting the financial activities within a business to understand their impact on the financial statements.

Preparing Closing Entries

The procedure of transferring all income statement balances to permanent accounts at the end of an accounting period to prepare for the next period.

Fiscal Year

A one-year period that companies use for financial reporting and budgeting, which does not necessarily align with the calendar year.

Accounting Period

A specific period of time used by businesses to calculate their financial results and prepare financial statements, such as a month, quarter, or year.