Which of the Following Statements Accurately Describes Changes in Terms

question 53

Multiple Choice

Which of the following statements accurately describes changes in terms of immigration due to the passage of the Hart-Celler Act?

• A) The law favored immigration from Europe as compared to other parts of the world.
• B) The law, which was supported by both parties, removed quotas based upon national origin.
• C) The law removed annual limits on how many immigrants could enter the United States.
• D) The law, which was only supported by Democrats, decreased foreign immigration.
• E) The law was predominantly designed to increase American access to cheap labor.

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Definitions:

Mandatory Adoption

A requirement for companies to follow specific new accounting standards or regulations by a specified date.

FASB Statement

Official pronouncements by the Financial Accounting Standards Board that outline accounting standards and principles.

Retrospective Adjustment

A change made to the accounting records to correct an error or to apply a different accounting policy as if it had always been applied.

Net Impact

The overall effect of transactions or events on the financial position of a company, often considered in decision-making and reports.