In the Declaration of Independence, Thomas Jefferson Reiterated John Locke's

question 41

Multiple Choice

In the Declaration of Independence, Thomas Jefferson reiterated John Locke's theory of social contract that ______.

• A) the power of the king was supreme, as he was born with a God-given right to rule over society
• B) whenever government fails in its duty to secure rights, the people have the right to "alter" or "abolish" it
• C) The King and Parliament were the provider of rights to the colonial citizens
• D) citizens are naturally born into an unequal state
• E) Parliament rightly held veto power over the Continental Congress

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Definitions:

Income Tax Expense

The amount of money a company sets aside to pay its income tax obligations for the year.

Capital Budgeting

The process of evaluating and selecting long-term investments that are in line with the goal of maximizing the value of a firm.

Straight-Line Depreciation

An approach for allocating the expenditure of a material asset over its lifespan in steady yearly payments.

Net Present Value

A calculation that compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account.