In 1978, the texas constitution was amended (article 8, section 22), so that if the economy of the state shrinks, appropriations have to shrink as well.
<h3>what is texas constitution ?</h3>
The Texas Constitution is the fundamental governing document of Texas, describes the structure and function of the government, it consists of a preamble and 17 articles.
- Article 1 represents Bill of Rights and consists of 34 sections.
- Article 2 represents the Power of Government which provides for the separation of the powers of the government.
- Article 3 represent the Legislative Department, include the legislative power of the state of Texas and consists of the Texas Senate and Texas House of Representatives.
- Article 4 Executive Department and it consists of 26 sections which describes the powers and duties the officials of state's executive.
- Article 5 Judicial Department consists of 32 sections, explains the composition, powers of the Texas Supreme Court, the Court of Criminal Appeals, Justice of the Peace Courts etc.
- Article 6 Suffrage consists of five sections, defines classes of persons are not allowed to vote like minors, persons convicted of a felony etc.
- Article 7 Education consists of 20 sections, provisions for public schools, asylums and universities.
- Article 8 Taxation and Revenue which places various restrictions on the ability of the Legislature and local governments to impose taxes like local property taxes.
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Nominal GDP is a good snapshot of the current value of production in an economy but it cannot be used to make comparisons over time because prices change.
Nominal GDP is an indicator used to understand a country's economy. It measures the current value of production of a country. But it cannot be considered as a good measure. One important drawback of Nominal GDP is that it cannot be used to make comparisons of production prices over time because it doesn't take inflation into account.
Nominal GDP works only with current prices and the price changes will not be seen when calculated through years.
So Real GDP is considered for comparisons of product prices over time.
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Answer:
b. Horizontal merger.
Explanation:
Project Repat is merging with a company that produces similar products to its own markets them in similar markets as well, this is an example of a horizontal merger that results in increased synergies between the similar firms and a greater market share opportunity.
Vertical mergers are usually not in the same industry. They would either be with the suppliers of Project Repat or customers who retail Project Repat's products.
Conglomerate is an example of diversification and usually the merging firms have different operations.
There are no information of clashes of any sort within the two merging companies so it is uncertain whether this is a hostile takeover.
Hope that helps.
Answer:
$153,333
Explanation:
Calculation to determine What amount should Olympic recognize as compensation expense for 2016
Using this formula
Compensation expense =Total compensation/Vesting period
Let plug in the formula
Compensation expense=($5 x 92,000)/3 years
Compensation expense=$460,000/3 years
Compensation expense=$153,333
Therefore What amount should Olympic recognize as compensation expense for 2016 is $153,333
