Identify Any Fallacies in the Following Passage Either by Naming

question 34

Essay

Identify any fallacies in the following passage either by naming them or, where they seem not to conform to any of the patterns described in the text, by giving a brief explanation of why the fallacious reasoning is irrelevant to the point at issue.
In one of his columns, Mike Royko had a word or two to write about Sylvester Stallone. According to Royko, after completing the movie Rambo: First Blood Part II, Stallone explained that it was an attempt to secure some credit for Vietnam veterans. Royko quoted Stallone as saying, "The people who pushed the wrong button all took a powder. The vets got the raw deal and were left holding the bag. What Rambo is saying is that if they could fight again, it would be different."
Royko went on to observe that during the Vietnam War, when Stallone could have been a "real-life Rambo," he spent his time first at American College of Switzerland "teaching rich girls how to touch their toes" and then as a drama major at the University of Miami "improving his tan."

Recognize efficiencies in the accounting recording process, including the use of journals and ledgers.

Grasp the concept of a compound journal entry and its use in accounting.

Understand the sequence of recording transactions: from analysis to entry in journals and ledgers.

Know the components and characteristics of an account, including its debit and credit sides.

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Definitions:

Compounded Annually

Interest on an investment or loan is calculated annually on both the initial principal and previously accumulated interest.

Loan

Borrowed capital that is expected to be repaid with interest by the borrower to the lender at a future date.

Annual Payments

Payments made once a year for any form of obligation or financial product, such as loans, leases, or insurance premiums.

Annual Return

The percentage change in an investment's value over a year, including dividends and appreciation.