Which of the Following Is True of the First Congress

question 64

Multiple Choice

Which of the following is true of the First Congress?

• A) It quickly approved a tariff, thereby providing revenue to the new government.
• B) It decided that the sale of public land was the best means by which to raise revenue for the government.
• C) A majority of its members advocated state sovereignty rather than a strong national government.
• D) None of the members of the Constitutional Convention were included in its membership.

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Definitions:

Residual Value

The anticipated final value of an asset after its period of utility has ended.

Sum-Of-The-Years'-Digits

A depreciation method that accelerates the expense recognition, based on a descending fraction of the sum of the year digits.

Depreciation Expense

Apportioning the expenditure of a substantial asset over its operational life.

Residual Value

The estimated value that an asset will be worth at the end of its useful life, often considered in leasing or depreciation calculations.