The Following Questions Refer to the Excerpt Below

question 1

Multiple Choice

The following questions refer to the excerpt below.
"It is impossible for the United States to preserve itself as a republic or as a democracy when 600 families own more of this Nation's wealth - in fact,twice as much - as all the balance of the people put together. Here is the whole sum and substance of the share-our-wealth movement:
1.Every family to be furnished by the Government a homestead allowance… of not less than one-third the average family wealth of the country...No person to have a fortune of more than 100 to 300 times the average family fortune…4.An old-age pension to the persons of 60…
8.The raising of revenue and taxes for the support of this program to come from the reduction of swollen fortunes from the top."
Huey Long,"Share Our Wealth," 1932
-Statements such as this one reflected the concerns of some Americans that

• A) the financial regulatory system needed to be strengthened significantly.
• B) the Democratic Party had gone too far to advance the interests of the working class.
• C) the federal government's reform efforts were not extensive enough to address the crisis.
• D) corporations had too much power in national politics.

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Definitions:

Single-entry Accounting

A simplified accounting method where transactions are recorded with a single entry, typically used by small businesses for tracking income and expenses.

Common-size Statements

Financial statements that present all items as percentages of a common base figure, facilitating comparison between periods or among companies.

Separate Checkbooks

The practice of using different checkbooks for business and personal transactions to ensure accurate financial management.

Ratio Analysis

A financial analytical technique that uses ratios (quantitative relationships) between financial statement items to assess a company's performance and condition.