As a Part of His Reforms, Andrew Jackson Employed Political

question 55

Multiple Choice

As a part of his reforms, Andrew Jackson employed political ______, filling administrative positions as rewards for support rather than solely based on merit.

• A)merit
• B)patronage
• C)consideration
• D)qualifications

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Definitions:

After-Tax Net Income

The amount of profit left over after all expenses, including taxes, have been deducted from total revenue; represents the bottom line for a company.

Cost Method

An accounting approach used for investments where the investor has little to no influence over the investee, recording the investment at cost and recognizing income only when dividends are received.

Elimination

In accounting, the process of removing intercompany transactions and balances from the financial statements of a group of companies consolidated as one entity.

Intercompany Profits

Profits that arise from transactions between companies within the same group, which are not realized from the perspective of the consolidated entity.