Which of the Following Is Correct with Regard to Treaties

question 28

Multiple Choice

Which of the following is correct with regard to treaties in the United States legal system?

• A) They have no legal effect.
• B) Under the U.S. Constitution, they must be signed by the President and approved by the U.S. Senate.
• C) They have no effect on business law.
• D) They must be approved by the states before they have the force of law.

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Definitions:

Service Revenue

Income earned by a company through the provision of services to customers or clients.

Notes Payable

A written promise to pay a specified amount of money, along with interest, by a certain date.

Interest Expense

Expenses that a company faces for using borrowed capital, usually shown on the profit and loss statement.

Owner's Equity

The residual interest in the assets of an entity that remains after deducting its liabilities. It represents the ownership interest of the shareholders in a company.