The Elastic Clause in Article I of the Constitution Created

question 43

Multiple Choice

The elastic clause in Article I of the Constitution created a situation in which Congress:

• A) took a lead role in the early American constitutional system.
• B) was limited in its powers.
• C) had legislative power separated between two houses.
• D) had a small set of specific powers that guided its actions in early America.
• E) is no longer relevant in the policy-making process.

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Definitions:

Goodwill

An intangible asset arising when a company acquires another for a price higher than the fair market value of its net assets.

Other Comprehensive Income

Income that includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Equity Method

A financial recording method where investments are logged if the investor has a considerable impact on the investee, though not complete control.

Cumulative Losses

Total losses accumulated over a period, often reflecting a company's financial difficulties or losses in investment value.