State Court Systems

question 192

Multiple Choice

State court systems:

• A) all have intermediate appeals and supreme courts beyond trial courts
• B) all have supreme courts
• C) have no appellate courts; federal appeals courts are used
• D) do not all have supreme courts, but most do
• E) are required by the U.S. Constitution to have appeals courts

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Definitions:

Present Value

The current value of a future sum of money or stream of cash flows given a specified rate of return, used in discounting to account for the time value of money.

Future Cash Receipts

Expected incoming cash flows from business operations, investments, or other sources.

Callable Bonds

Securities that the issuer has the right to repurchase before they reach their due date, for a predefined amount.

Market Rate

The prevailing rate of interest available in the marketplace for securities of similar risk and maturity.