The Model State Constitution

question 44

Multiple Choice

The Model State Constitution

• A)has twelve basic articles that are embodied, to some extent, in the various state constitutions of today.
• B)has six basic articles that are also found in the U.S.Constitution.
• C)endorses the widespread use of legal phrasing in revised constitutions.
• D)advocates the use of a single constitution suitable to all fifty states.

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Definitions:

Net Sales

The amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and discounts.

Current Ratio

A liquidity ratio that measures a company's ability to cover its short-term obligations with its short-term assets.

Liquidity

The ease with which an asset or security can be converted into cash without affecting its market price.

Short-term Debt

Borrowings that are due for repayment within one year.