Examlex
In the ____ method of combining financial accounts in a merger, the acquired company's assets are recorded on the acquiring company's books at their cost (net of depreciation) when originally acquired.
Supremacy Clause
A clause in the U.S. Constitution stating that federal law is the "supreme Law of the Land" and takes precedence over state laws.
Federalism
A system of government in which power is divided between a central authority and constituent political units, such as states in the U.S.
Unitary
Refers to a centralized governmental structure where local or provincial divisions have little independent power outside the central authority's directives.
Confederal
Relating to a confederation, which is an alliance between sovereign states, where the central authority has limited powers and the member states retain a high degree of autonomy.
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