Despite Enough States Ratifying the Equal Rights Amendment for It

question 46

Multiple Choice

Despite enough states ratifying the Equal Rights Amendment for it to become an amendment to the Constitution, the Justice Department has argued that it can no longer be ratified because

• A) Congress had set a deadline of 1982 for ratification.
• B) Congress had set a deadline of 1989 for ratification.
• C) Congress had set a deadline of 1996 for ratification.
• D) Congress had set a deadline of 1999 for ratification.

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Definitions:

Financial Asset

An asset that derives value because of a contractual claim, such as cash, stocks, bonds, and bank deposits.

Financial Liability

An obligation to deliver cash or another financial asset to another entity, or to exchange financial instruments under potentially unfavorable conditions.

Offset Conditions

Conditions that allow entities to negate or counterbalance one position with another, commonly used in accounting and finance to manage risk or net-off liabilities against assets.

Different Financial Instruments

Various types of investment assets, including stocks, bonds, derivatives, and mutual funds, that provide a way for individuals and businesses to invest, finance operations, or manage risk.