Under the Administrative Procedures Act,Congress Has the Authority to Cancel

question 57

Multiple Choice

Under the Administrative Procedures Act,Congress has the authority to cancel an agency's final rule if all of the following conditions are met except

• A) both houses agree.
• B) a resolution to overrule is passed within 60 days.
• C) there is no judicial challenge from the courts within 60 days.
• D) the overruling resolution is presented to the president.

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Definitions:

Exclusion Ratio

The portion of an annuity payment that is not subject to income tax, representing a return of investment in the annuity.

Annuity Payment

Regular payments received from an annuity investment over a specified period.

Contract Cost

is the total expense that a company recognizes on its books for a specific contract over its duration, encompassing labor, materials, and overhead.

Deductible IRA Contribution

A contribution to an Individual Retirement Account (IRA) for which the taxpayer can claim a tax deduction, subject to certain conditions and limits.