Under the Articles of Confederation, the Most Important Decisions Were

question 94

Multiple Choice

Under the Articles of Confederation, the most important decisions were made by __________.

• A) Congress
• B) local governments
• C) state legislatures
• D) the federal government
• E) the judiciary

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Definitions:

Non-cash Charges

Expenses reported on the income statement that do not involve a direct cash outflow, such as depreciation or amortization.

Direct Materials Budget

A financial plan that estimates the cost of raw materials required for production.

Beginning Inventory

The value of goods available for sale or use at the start of an accounting period, carried over from the end of the previous period.

Budgets

Financial plans that estimate revenue and expenditures over a specific time period.