Under the Articles of Confederation

question 70

Multiple Choice

Under the Articles of Confederation

• A) a unicameral Congress was to be the chief agency of national government.
• B) there was no executive branch of national government.
• C) each state remained essentially sovereign.
• D) major legislation required a two-thirds vote to pass Congress.
• E) a strong national judiciary was established.

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Definitions:

Asset Turnover

A ratio that measures the efficiency of a company's use of its assets in generating sales revenue.

Financial Statement Presentation

The method of organizing and presenting financial data of a company in its financial statements, according to accounting standards.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since its acquisition.

Asset Turnover Ratio

A ratio measuring how effectively a business uses its assets to produce sales income.