Who Were the "Contras

question 155

Multiple Choice

Who were the "contras"?

• A) They were a group formed by members of the Palestine Liberation Organization to overthrow the Israeli government.
• B) They were a group financed by the CIA to undermine the Sandinista government in Nicaragua.
• C) According to President Reagan, they were all American hostages around the world.
• D) They were bands of evangelical Christians who traveled the country inveighing against sexual permissiveness and secular humanism.
• E) They were the members of the underground movement in the Soviet Union that was working to bring democracy, capitalism, and Christianity to that communist land.

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Definitions:

Discount Rate

The interest rate used to discount future cash flows of a financial instrument to present value.

Present Obligation

A duty or responsibility that is expected to be settled in the future, recognized as a liability.

Past Event

An event or transaction that has occurred prior to the balance sheet date, impacting the financial position or performance of an entity.