The Platt Amendment

question 97

Multiple Choice

The Platt Amendment:

• A) recognized Cuban autonomy.
• B) granted independence to Puerto Rico.
• C) limited the U.S. presence in the Philippines.
• D) authorized the United States to intervene militarily in Cuba.
• E) declared Cuba a colony of the United States.

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Definitions:

Depreciation

The allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value due to use and wear and tear.

Income Tax Rate

The percentage at which an individual or corporation is taxed on their income.

Deferred Tax Asset

A financial statement item that represents an entity's right to reduce future tax payments due to temporary differences or certain carryover losses.

Deferred Tax Liability

A tax obligation recognized in the financial statements representing taxes that are owed but not yet paid.