Which of the Following Statements Accurately Describes the Main Goal

question 62

Multiple Choice

Which of the following statements accurately describes the main goal of each side as the war started?

• A) Whereas the Confederacy passionately argued and fought to maintain the institution of slavery, the United States focused on curbing the future of slavery as the primary basis of the war.
• B) Whereas the Confederacy was certain the war would be short and, thus, did not have real goals going in, the Union had defined goals to eliminate slavery out of certainty it would be a long fight.
• C) Whereas the Confederacy sought to prove itself in such a way that the United States and other countries would recognize its independence, the United States sought to restore the Union.
• D) Whereas the Confederacy fought to expand slavery in the West but substantially decrease it in the South, the United States fought to limit slavery entirely to the South going forward.
• E) Whereas the Confederacy sought to use the war to assert its status as the leading region economically, the United States sought to use it as a stimulus to boost its declining economy.

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Definitions:

Cost Recovery Method

A revenue recognition method where no profit is recognized until the costs of the sold goods or services are fully recovered.

Installment Sales

A method of sale that allows the buyer to make payments over a period of time, while the seller recognizes income as payments are received.

Collectibility

The likelihood or ability of a company to collect payments from customers for goods or services provided, considered when recognizing revenue.

Completed Transaction Method

An accounting method that recognizes revenue and expenses only when a transaction has been completed.