If the President Does Not Act on a Bill Within

question 37

Multiple Choice

If the president does not act on a bill within 10 days after Congress adjourns, the bill

• A)becomes law but only if the president signs it.
• B)becomes law anyway.
• C)becomes law but only if the president returns it to Congress.
• D)goes to the Supreme Court for judicial review.
• E)dies under a pocket veto.

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Definitions:

Carrying Value

The value of an asset as it appears on a balance sheet, equal to the cost of the asset minus accumulated depreciation or amortization.

Purchase Price

The amount of money paid to acquire an asset, product, or service, or the total cost involved in a transaction.

Open Bond Market

A freely competitive market where participants can buy and sell bonds.

Consolidation Process

The consolidation process involves combining the financial statements of a parent company and its subsidiaries into one set of financial statements, presenting it as if the group of companies is a single entity.