At the 1787 Constitutional Convention, a Few of the Elite

question 50

Essay

At the 1787 Constitutional Convention, a few of the elite white male delegates spoke critically of chattel slavery or the slave trade on the basis of political, not moral, grounds. Describe, for example, the protestations of George Mason and Elbridge Gerry.

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Definitions:

Matching Principle

An accounting principle that states expenses should be recognized in the same period as the revenue they helped generate.

Recorded

The act of entering financial transactions or information into accounting records.

Adjusting Entries

Entries made in the accounting records at the end of an accounting period to allocate incomes and expenses to the period in which they actually occurred.

Expense Accounts

Accounts used to record the consumption of economic benefits during the operational activities of a business.