When the Second Continental Congress Convened

question 72

Multiple Choice

When the Second Continental Congress convened

• A) delegates attended from all thirteen colonies.
• B) the strongest sentiment was for declaring independence from England.
• C) it adopted measures to raise money and create an army and navy.
• D) it drafted new written appeals to the king.
• E) the conservatives remained a strong force.

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Definitions:

Inventory

Refers to the goods and materials a business holds for the ultimate goal of resale.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Bond Interest Expense

Bond interest expense is the cost incurred by an issuer of bonds due to periodic interest payments made to bondholders.

Carrying Amount

The value at which an asset is recognized on the balance sheet after deducting any accumulated depreciation and impairment charges.