Except for Individuals Who Are Extraordinarily Close to the President

question 32

True/False

Except for individuals who are extraordinarily close to the president, senior presidential appointees are selected through a four-step process which includes selection by the White House Presidential Personnel Office, the White House clearance process, delivery of the nominee's name to the Senate clerk, and Senate confirmation.

---

Definitions:

Net Income

The total earnings of a company after deducting all expenses from revenues, representing the profit.

Owner's Drawings

The amount of money taken out from the business by the owner(s) for personal use.

Income Statement

A financial statement that shows a company's revenues and expenses over a specified period, resulting in net profit or loss.

Debit Entries

Accounting entries that increase an asset or expense account, or decrease a liability or equity account.