Term Limits Were Expected to Produce All but Which of the Following

question 14

Multiple Choice

Term limits were expected to produce all but which of the following results?

• A)Increase the proportion of first-term legislators in any given session.
• B)End the domination of a chamber by powerful, entrenched veteran legislators.
• C)Reduce pay and shorten the legislative session.
• D)Shift power from the legislature to the governor and to lobbyists.

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Definitions:

Basis

The amount of investment in an asset for tax purposes, used to calculate gain or loss on the asset's disposition.

Liability

An obligation or debt owed to another party, which can be a factor in personal and business finances.

Gain or Loss

The financial result from selling an asset for more (gain) or less (loss) than its purchase price, important for tax calculations related to capital gains and losses.

Section 1231 Property

Property related to the business or trade, the sale of which may result in ordinary income or capital gains treatment depending on the specifics of the transaction.