MATCHING -King Philip

question 145

Multiple Choice

MATCHING
-King Philip

• A)established a Committee of Safety in New York
• B)a Protestant who became King of England
• C)Metacom
• D)formed Covenant Chain with Iroquois
• E)elite planter who called for reform in Virginia
• F)Governor of Virginia during Bacon's Rebellion
• G)a Catholic who became King of England
• H)wealthy Virginian speaker of the House of Burgesses
• I)proprietor of Pennsylvania
• J)successful Jewish silversmith
• K)overthrown in the Glorious Revolution
• L)slave who became free and owned slaves himself

Identify the proper classification of assets on the balance sheet.

Recognize the principles and accounting treatment for depreciation of fixed assets.

Differentiate between the methods of depreciation and calculate depreciation expense.

Understand the treatment and implications of expenditures after initial asset acquisition.

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Definitions:

Elastic Demand

A situation in which the quantity demanded of a good or service significantly changes in response to a change in price.

Tax Revenue

The income that is gained by governments through taxation, which is then used to fund public services and goods.

Price Elastic

Refers to the sensitivity of the demand for a good or service to changes in its price; highly elastic demand means consumers will significantly alter their purchase amount with price changes.

Consumption

The use of goods and services by households. It is a primary component of an economy's demand side.