In 1971,the Twenty-Sixth Amendment Lowered the Voting Age in American

question 32

Multiple Choice

In 1971,the Twenty-sixth Amendment lowered the voting age in American elections to:

• A)16
• B)18
• C)20
• D)21
• E)25

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Definitions:

Gain on Disposal

Gain on disposal refers to the financial profit made from selling an asset for more than its carrying amount on the books.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Book Value

The book value of an asset is its value on a balance sheet, calculated by subtracting any depreciation, amortization, or impairment costs from its original cost.

Salvage Value

The forecasted residual worth of an asset at the conclusion of its serviceable life.