Match the Term with the Definition

question 4

Multiple Choice

Match the term with the definition.
-1787 land act that established a three-stage process by which settled territories would become states. It also banned slavery in the Northwest Territory.

• A)Antifederalists
• B)Articles of Confederation
• C)Federalists
• D)gradual emancipation
• E)New Jersey Plan
• F)Newburgh Conspiracy
• G)Northwest Ordinance
• H)republicanism
• I)Shays's Rebellion
• J)three-fifths clause
• K)Treaty of Fort Stanwix
• L)United States Constitution
• M)Virginia Plan

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Definitions:

Inventory

Goods and materials a business holds for the ultimate goal of resale or production.

Section 1231

This is a section of the U.S. Internal Revenue Code that provides favorable tax treatment for gains and losses on the sale or exchange of certain types of property used in a trade or business.

Capital Losses

Capital losses occur when the sale of a capital asset, such as stocks or real estate, results in a loss, which can offset capital gains for tax purposes.

Carry Forward

A tax policy that allows individuals or companies to use a current year's tax losses to offset future taxable income.