Which of the Following Is NOT True of the United

question 109

Multiple Choice

Which of the following is NOT true of the United States government under the Articles of Confederation?

• A)Each state had only one vote in Congress.
• B)Most authority rested with the United States Congress rather than the state governments.
• C)The Congress had only one house.
• D)There was no president.
• E)All of these are false.

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Definitions:

Interest Rate

The percentage of a loan that a borrower must pay as interest, usually shown as an annual rate based on the outstanding loan amount.

Mortgage

A legal agreement whereby a lender lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Monthly Payments

Regular payments made over a specified period of time, often used in the context of loan repayments or rental agreements.

Times Interest Earned

A financial metric indicating how well a company can cover its debt payments, by comparing its earnings before interest and taxes against its interest expenses.