The Governor Resembles the U

question 21

True/False

The governor resembles the U.S.President in that s/he appoints every other state executive (such as attorney general and secretary of state), as well as department heads to help carry laws into effect.

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Definitions:

Acquisition-Date Fair Value

The fair value of an asset or liability measured at the date a business combination is effected.

Bonds Payable

A long-term liability account on a company’s balance sheet that represents the amount owed to bondholders by the issuer, to be repaid at a future date.

Unamortized Premium

Unamortized Premium is the portion of the bond premium that has not yet been expensed and is allocated over the remaining life of the bond as an adjustment to interest expense.