NC Legislature and Representation Quiz

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Questions and Answers

What type of model believes that elected officials should represent the people's interests?

  • Oligarch model
  • Monarch model
  • Trustee model (correct)
  • Dictator model

Who is the head of the state executive branch in North Carolina?

  • Mayor
  • President
  • Governor (correct)
  • Prime Minister

What is the primary source of revenue for counties?

  • Sales Taxes
  • Excise Taxes
  • Property Taxes (correct)
  • Income Taxes

Which type of legislature has two separate chambers for its lawmaking process?

<p>Bicameral (B)</p> Signup and view all the answers

What is the role directly under the Governor in North Carolina's executive branch?

<p>Attorney General (A)</p> Signup and view all the answers

What is revenue also known as?

<p>Turnover (A)</p> Signup and view all the answers

Why is revenue important for businesses?

<p>To generate profits (A)</p> Signup and view all the answers

What does high revenue indicate about a business?

<p>Financial strength (B)</p> Signup and view all the answers

How does high revenue impact the economy?

<p>Leads to a healthy economy (D)</p> Signup and view all the answers

What role does revenue play in enabling a business to grow?

<p>Facilitates further growth (A)</p> Signup and view all the answers

Why is revenue considered the financial lifeblood of an organization?

<p>To continue operations and facilitate growth (B)</p> Signup and view all the answers

What role does revenue play in investors' evaluation of a company?

<p>It is a key indicator of profitability and growth potential. (D)</p> Signup and view all the answers

Why is revenue recognition important in financial reporting?

<p>To ensure compliance with accounting standards and maintain accurate financial records. (D)</p> Signup and view all the answers

Where is revenue typically reported in a company's financial statements?

<p>On the income statement to show financial performance. (C)</p> Signup and view all the answers

How does achieving revenue targets affect a company's operations?

<p>It increases investor confidence and market share. (A)</p> Signup and view all the answers

What is the primary purpose of setting revenue targets in business strategy?

<p>To guide operations and growth plans. (C)</p> Signup and view all the answers

Why do investors often consider revenue growth rate when evaluating a company's financial performance?

<p>To assess the company's competitive position and growth potential. (D)</p> Signup and view all the answers

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