Final answer:
Oversight is executed by the legislature, not by legislative caucuses, and it is a mechanism to supervise and limit the powers of other branches of government to prevent corruption and abuse of power.
Step-by-step explanation:
The statement that oversight is handled by special legislative caucuses is false. Oversight refers to the power that the legislature holds to oversee the executive branch and the bureaucracy. This is done to ensure that no single branch gains too much power and becomes corrupt. Congress exercises this power by controlling funding and approving presidential appointments. Committees and subcommittees hold hearings to review bureaucratic activities, contributing to supervisory oversight. Likewise, statements such as 'Colonial governors possessed the right to veto legislation passed by the colonial assemblies' is true, reflecting the control exercised by the governors during colonial times. Similarly, 'The Three-Fifths Compromise dealt with the issue of representation and taxation' is also true, as it was a compromise reached during the forming of the United States to determine how slaves would be counted for both taxation and representation.