Which of the Following Is True of the Succession Act

question 61

Multiple Choice

Which of the following is true of the Succession Act of 1947? 

• A) It suggests holding general elections to fill the offices of president and vice president. 
• B) It addresses the situation that arises when both the president and the vice president die, resign, or are disabled. 
• C) It addresses the question of how the president should fill a vacant vice presidency. 
• D) It requires the president to appoint a successor from among the members of his or her political party. 
• E) It assigns the office of president to the leader of the opposition party in the event of the president's death or resignation.

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Definitions:

Current Assets

Cash and other assets that are expected to be converted to cash or sold or used up, usually within one year or less, through the normal operations of the business.

Other Receivable

An accounting term for amounts due to a company that are not from typical sales transactions, possibly including loans to employees or other companies.

Operating Expense

Costs associated with the day-to-day operations of a business, excluding cost of goods sold, such as rent, utilities, and payroll.

Uncollectible Receivables

Amounts owed to a company by customers that are considered unlikely to be paid, leading to their classification as bad debts.