In the "Filibustering" of the 1850s

question 98

Multiple Choice

In the "filibustering" of the 1850s,

• A) southern politicians threatened duels to prevent discussion of slavery in the Congress.
• B) American privateers attacked the merchant ships of rival nations in Asian ports.
• C) armed expeditions of private citizens invaded desirable areas to the south of the U.S., such as Cuba and Nicaragua, to conquer new lands.
• D) pioneers flooded into the New Mexico territory to prevent its recapture by Mexico.
• E) southern Congressmen engaged in marathon speechmaking to prevent opponents from voting on measures they opposed.

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Definitions:

Contingent Liability

A potential obligation that may arise depending on the outcome of an uncertain future event, which is not confirmed at the date of the financial statements.

Fair Value

What would be pocketed from an asset sale or the price to offload a liability during a methodical engagement with market individuals on the day of measurement.

Present Obligation

A duty or responsibility to act or perform in a certain way.

Goodwill

The intangible asset that arises when a buyer acquires an existing business but pays more than the fair market value of the net assets.