According to Progressives, What Factory Conditions Needed Reform? Why Did

question 4

Essay

According to progressives, what factory conditions needed reform? Why did diverse groups-political bosses, some business leaders, and immigrant groups-support reform? Why did many business leaders argue that reform was unnecessary? Give examples of specific reforms.

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Definitions:

Adjusting Entry

An accounting journal entry made at the end of an accounting period to allocate income and expenditures to the appropriate period, ensuring compliance with the accrual basis of accounting.

Allowances for Doubtful Accounts

A contra-asset account that reduces the total amount of accounts receivable to reflect the portion that is estimated not to be collected.

Net Realizable Value

The estimated selling price in the ordinary course of business, minus the estimated costs of completion and the costs necessary to make the sale.

Bad Debt Expense

A provision for accounts receivable that are considered unlikely to be collected.