An Automatic Veto That Occurs When Congress Goes Out of Session

question 33

Multiple Choice

An automatic veto that occurs when Congress goes out of session within ten days of submitting a bill to the president and then the president has not signed it, is known as

• A) veto.
• B) omnibus bill.
• C) pocket veto.
• D) override.
• E) entitlement.

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Definitions:

Outstanding Shares

The total shares of a corporation that are currently owned by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.

Authorized Shares

The maximum number of shares of stock a corporation can issue as specified in its charter.

Investors

Individuals or entities that allocate capital to different types of investments with the expectation of generating a future return.

Residual Claim

A claim on a company's assets and income that is only payable after all other debts and liabilities have been settled.