The Equal Rights Amendment (ERA) Was First Proposed as an Amendment

question 61

Essay

The Equal Rights Amendment (ERA) was first proposed as an amendment to the United States Constitution in 1923 and was designed to guarantee equal rights for women. In 1972, it passed both houses of Congress and was sent to the state legislatures for ratification. The ERA was ratified by 35 states, but was unable to garner the mandatory three additional states by the deadline in 1982. Do you think that such an amendment would pass today? Why or why not?

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Definitions:

Cash Flow

The total flows of capital into and out of a company, crucially determining its liquidity ratio.

Impairment Loss

A charge applied to a company's income statement when the fair value of an asset drops below its carrying value on the balance sheet.

Carrying Value

The recorded book value of an asset in a company's financial statements, calculated as the original cost minus accumulated depreciation or amortization.

Recoverable Amount

The estimated amount that can be recovered from an asset's sale or use, typically higher than its net book value.