Which of the Following Was a Characteristic of the Federal

question 42

Multiple Choice

Which of the following was a characteristic of the federal government under the Articles of Confederation?

• A) Congress was a two-chambered body, with a House of Delegates and a Council.
• B) Congress could not levy taxes or regulate commerce.
• C) Congress could amend the Articles by a two-thirds vote.
• D) There were two branches of government-judicial and legislative-but no executive.
• E) The more populous a state, the more votes it cast in Congress.

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Definitions:

Reversing Adjustments

Reversing Adjustments are accounting entries made at the beginning of a new accounting period to cancel out adjusting entries made at the end of the previous period to simplify financial reporting.

Record Depreciation Expense

The process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Allocate Prepaid Insurance

involves distributing the cost of insurance premiums over the period that the insurance coverage relates to, recognizing it as an expense over time rather than all at once.

Accrue Salaries Payable

Accrue Salaries Payable involves recording the salaries earned by employees that have not yet been paid, recognizing the liability before the cash is disbursed.