When California Voters Placed a Measure on the Ballot in 2003

question 78

Multiple Choice

When California voters placed a measure on the ballot in 2003 to remove unpopular governor Gray Davis from office,they made use of the

• A)mediated lawmaking process.
• B)initiative.
• C)franchise.
• D)referendum.
• E)recall.

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Definitions:

Return on Total Assets

A financial ratio that measures a company's profitability in relation to its total assets, indicating how effectively a company uses its assets to generate earnings.

Trading (Debt) Securities

Financial instruments, such as bonds or notes, that are bought and sold with the intention of making a profit from short-term price fluctuations.

Historical Cost

The original monetary value of an asset or expense as recorded at the time of purchase or acquisition.

Fair Value

An estimate of the price at which an asset would trade in a competitive auction setting.