Article VI of the U

question 27

Multiple Choice

Article VI of the U.S. Constitution contains the supremacy clause. What is the importance of this clause?

• A) It requires that the individual state constitutions will be the "supreme law of the land" and that the national constitution may not override them.
• B) It creates the standard that no other law, state constitution, or government action may override the U.S. Constitution, which is considered the "supreme law of the land."
• C) It states that Congress is supreme over the other two branches of government.
• D) It provides that no single government has supremacy over another.
• E) It establishes the supremacy of the American citizen as the ultimate power.

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Definitions:

Interest

The cost of borrowing money, typically expressed as an annual percentage of the principal amount.

Allowance Method

An accounting technique used to account for accounts receivable that a company does not expect to collect fully, thereby creating an allowance for doubtful accounts.

Perpetual Inventory System

An inventory accounting method that instantly records inventory sales or purchases using computerized point-of-sale systems and enterprise asset management software.

Accounts Receivable

This refers to the money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.