The Three-Fifths Compromise

question 39

Multiple Choice

The Three-fifths Compromise

• A) determined that three out of every five slaves would be counted for purposes of representation and taxation.
• B) determined the ratio between free states and slave states.
• C) created a bicameral legislature.
• D) declared that the states would pay three-fifths of the Revolutionary War debt and the federal government would pay the rest.
• E) determined that all American citizens would pay three-fifths of their incomes to the federal government in taxes every year.

---

Definitions:

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized or accounted for.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.

U.S. GAAP

The Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures used in the preparation of financial statements.

GAAP

A set of widely adhered to accounting norms and standards utilized for financial reporting, known as Generally Accepted Accounting Principles.