Which of the Following Is a Characteristic of a Confederal

question 34

Multiple Choice

Which of the following is a characteristic of a confederal system?

• A) It is a system in which a subnational government is a "creature of the national government."
• B) It is joined together by a central government that has unlimited powers over it.
• C) It is a system in which the Constitution vests all powers in the national government.
• D) It has a system of shared sovereignty where the powers are divided between a central and regional government.
• E) It has a national government that exists and operates only at the direction of subnational governments.

Understand the fundamentals of the accounting equation and its implications for business operations and financial reporting.

Understand how transactions affect stockholders' equity.

Differentiate between assets, liabilities, and stockholders' equity.

Understand the recording and impact of business transactions.