Assets Are

question 26

Multiple Choice

Assets are

• A) always lower than liabilities
• B) equal to liabilities less owner's equity
• C) the same as expenses because they are acquired with cash
• D) financed by the owner and/or creditors

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Definitions:

Earmarks

Provisions added to legislation that allocate specific funds for particular projects, usually at the behest of a legislator to benefit their own constituents or interests.

Term Limits

Restrictions on the number of terms or the length of time a person can hold a particular elected office.

Interest Groups

Organizations that seek to influence public policy in favor of their specific interests without seeking political office.

House Rules Committee

A powerful committee in the U.S. House of Representatives responsible for determining under what rule other bills will come to the floor.