Which of the Following Was a Ramification of the Three-Fifths

question 62

Multiple Choice

Which of the following was a ramification of the Three-Fifths Compromise?

• A)It allowed for a political agreement between the North and the South.
• B)It allowed for a political agreement between large states and small states.
• C)It permanently outlawed the slave trade.
• D)It temporarily outlawed slavery.

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Definitions:

Expense Accounts

Financial accounts used to track money spent or costs incurred by a business in its operational activities.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thereby preparing the books for the next period.

Income Summary

An account used in the closing process during the accounting cycle that summarizes revenues and expenses before transferring the net income or loss to retained earnings.

Owner's Capital

The total value of assets contributed by the owner(s) to a business minus any withdrawals made by the owner(s).