The British Prime Minister Is Called "First Among Equals" Because

question 17

Multiple Choice

The British prime minister is called "first among equals" because of which of the following?

• A)He or she must represent a particular legislative district before gaining leadership in the political party.
• B)He or she is never independent of the legislative body from which they were selected.
• C)He or she must operate according to the party platform.
• D)He or she is the leader of the political party.
• E)He or she must represent a particular legislative district before gaining leadership in the party, is never independent of the legislative body from which he or she was selected, must operate according to the party platform, and is the leader of the party.

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Definitions:

Intercompany Profit

Intercompany profit arises from transactions between units of the same company, requiring elimination during the consolidation process to avoid inflating revenues and profits.

After-tax Gain

The net profit that remains after subtracting the tax due from the total gain of a transaction or investment.

Equity Method

An accounting technique used to record an investor's earnings proportional to their stake in an associates company.

Cost Method

An accounting technique used to value investments, where the investment is recorded at purchase cost without recognizing subsequent changes in market value.