Match the Term with the Definition

question 9

Multiple Choice

Match the term with the definition.
-Utopian community organized by John Humphrey Noyes in New York in 1848. Noyes's opposition to private property led him to denounce marriage as the root of the problem. The community embraced sexual and economic communalism, to the dismay of its mainstream neighbors.

• A)American Colonization Society
• B)American system
• C)California gold rush
• D)Lone Star Republic
• E)manifest destiny
• F)mechanical reapers
• G)Mormons
• H)Oneida community
• I)Oregon Trail
• J)Seneca Falls Declaration of Sentiments
• K)Treaty of Guadalupe Hidalgo
• L)underground railroad

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Definitions:

FIFO Inventory Method

"First-In, First-Out," an inventory valuation method where the oldest inventory items are recorded as sold first, potentially affecting the cost of goods sold and inventory value.

Income Tax Purposes

Pertains to considerations or actions taken in the context of calculating tax liability on income.

Financial Reporting

The practice of creating reports that reveal the financial condition of a company to its management, investors, and governmental bodies.

LIFO Inventory Method

An accounting method that assumes the most recently produced items are sold first and uses those costs for accounting.