At the Beginning of Each Legislative Session,the _________ Reports to the Legislature

question 5

Multiple Choice

At the beginning of each legislative session,the _________ reports to the legislature the total amount of revenues expected from current taxes and other sources.

• A)secretary of state
• B)comptroller of public accounts
• C)state clerk
• D)state auditor

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Definitions:

Long-Term Asset

A long-term asset is an asset that is not expected to be converted into cash within a year and is used over a long period, such as property, plant, and equipment.

Intangible Asset

An asset that lacks physical substance and usually is very hard to evaluate, such as patents, trademarks, and copyrights.

Lease Term

The period for which a lease agreement is effective, specifying the duration for which the lessee has the right to use the property.