Under the Articles of Confederation the

question 78

Multiple Choice

Under the Articles of Confederation the

• A) president of the Continental Congress was more powerful than the Congress itself.
• B) Senate was the most powerful political institution.
• C) Continental Congress had no power to lay taxes.
• D) Supreme Court was the most powerful political institution.

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Definitions:

Sales Discounts

Reductions in the price of a product or service offered to incentivize prompt payment by the customer.

Sales Returns

Transactions in which customers return previously purchased merchandise, leading to a refund.

Operating Expenses

Costs associated with the day-to-day operations of a business, such as rent, utilities, and salaries, excluding direct production costs.

Perpetual Inventory System

An inventory accounting system that employs computerized point-of-sale systems and enterprise asset management software to instantly register the purchase or sale of inventory items.