Why Does the United States Have a Two-Party System

question 68

Multiple Choice

Why does the United States have a two-party system?

• A) The Framers wanted competition between political parties.
• B) The Framers wanted to avoid the mistakes of Europe.
• C) It was a compromise between a unitary system's efficiency and a multiparty system's diversity.
• D) It developed in the struggle between slave owners and abolitionists.
• E) It developed in the struggle between Federalists and Democratic-Republicans.

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Definitions:

Internal Accounting System

The accounting system that collects, aggregates, and generates and distributes budgeted and actual financial and cost information within the firm for use by executives and managers for both decision making and control.

Management Accounting

The accounting system used within the organization to help the organization achieve its goals.

Financial Accounting

Accounting for the revenues, expenses, assets, liabilities, and equities of an organization, concentrating on external users (shareholders, lenders, and government). Constrained by FASB rulings and other generally accepted accounting principles.

Tax Purposes

The reasons or objectives related to the calculation and payment of taxes to comply with legal requirements.