Most Loyalists

question 115

Multiple Choice

Most loyalists

• A)strongly rejected the American ideals of liberty and self-government.
• B)remained neutral during the American Revolution.
• C)sided with England because it seemed less risky than supporting an untried American union.
• D)patriotically participated in the fight for American independence.
• E)joined the Indian tribes.

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Definitions:

Year-End Costs

Expenses or costs incurred by a business at the end of the fiscal year; these may include adjustments, accruals, and prep for financial reporting.

Inventory Cost Flow

An accounting method that determines the value of sold inventory and ending inventory, can be FIFO, LIFO, or Average Cost.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue. It represents the company's bottom line.