Why Did Parliament Pass the Test Act During the Reign

question 2

Multiple Choice

Why did Parliament pass the Test Act during the reign of Charles II?

• A)To control the quality of food and drugs on the market
• B)To improve the quality of university graduates
• C)To help Catholics gain government jobs
• D)To stipulate that only Anglicans could hold military and civil offices
• E)To regulate promotions in the military

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Definitions:

Collateral Position

Collateral is property or assets that a borrower offers to a lender as security for a loan, which can be taken by the lender if the borrower fails to repay.

Stretching Payables

Paying invoices after they’re due according to the terms of sale. Also called leaning on the trade.

Short-term Loans

Loans that are scheduled for repayment within a short timeframe, usually less than one year.

Accounts Receivable

Accounts receivable refers to the money owed to a company by its customers for goods or services delivered but not yet paid for, representing a line of credit from the company to the customer.