The Power Delegated by the State to a Local Unit

question 66

Multiple Choice

The power delegated by the state to a local unit of government to manage its own affairs is called

• A)home rule.
• B)rule of the interior.
• C)vesting power.
• D)decree of authority.
• E)jurisdictional decree.

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Definitions:

Capital Stock

The total common and preferred shares that a company is authorized to issue, representing the ownership of the company.

Straight-Line

A method of calculating depreciation of an asset that evenly spreads the cost over its useful life.

Useful Life

The estimated duration a fixed asset is expected to be economically usable, with normal repairs and maintenance, for its intended purpose.

Cash Payback Period

The duration it takes for an investment to generate an amount of cash equal to the initial investment cost.