In What Way Is the Government of Canada Similar to That

question 25

Multiple Choice

In what way is the government of Canada similar to that of the United States?

• A)Both countries have a federal system in which power is shared between the national,state,and local governments
• B)Both countries have a unitary system in which power is centralized in the national government
• C)Both countries have a parliamentary system in which the executive branch derives its power from the legislative branch of government
• D)There is little similarity because Canada is a constitutional monarchy

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Definitions:

Share Capital

The money that a company raises through the issue of shares, representing the capital invested by shareholders.

Dividends

Payments made by a corporation to its shareholder members, usually derived from the company's earnings.

Balance Date

The specific date at which the financial position of a company is measured and reported, often the end of the fiscal year.

AASB 137

A standard issued by the Australian Accounting Standards Board that deals with the accounting for provisions, contingent liabilities, and contingent assets.