The Device by Which Citizens Can Directly Alter the Laws

question 11

Multiple Choice

The device by which citizens can directly alter the laws or the constitution of their state is called the

• A) initiative.
• B) referendum.
• C) recall.
• D) voting.

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Definitions:

Par Value

A nominal value assigned to shares of stock in a company's charter, not necessarily reflecting market value.

Common Stock

A type of equity security that represents ownership in a corporation, giving holders voting rights and a share in the company's profits through dividends.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, often divided into share capital and retained earnings.

Common Stock

A type of equity security that denotes ownership in a corporation, entitling the holder to a claim on part of the company's profits in the form of dividends and voting rights.