Members of the Texas Public Utilities Commission Are

question 67

Multiple Choice

Members of the Texas Public Utilities Commission are

• A)elected to their positions by a direct, statewide vote of the people of Texas.
• B)appointed to their positions by the governor (with the approval of the Texas Senate).
• C)appointed to their positions by a vote of the Texas legislature.
• D)ex officio officeholders, serving in their PUC positions as a part of their duties as lieutenant
• Governor, Speaker of the House, and comptroller of public accounts.
• E) responsible for generating, transmitting, and distributing electricity in the Texas.

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Definitions:

Income Statement Accounts

Accounts found on the income statement, which report a company’s financial performance over a specific period, including revenues, expenses, gains, and losses.

Temporary Accounts

Accounts in accounting that are used to track transactions within a financial period, which are then transferred to permanent accounts at the end of the period.

Interest Expense

The cost incurred by an entity for borrowed funds, which may include the cost of bonds, loans, convertible debt, and lines of credit.

Interest Payable

The amount of interest expense that has been incurred during a period but not yet paid to creditors.