Compare and Contrast the Powers of Congress Under the Articles

question 21

Essay

Compare and contrast the powers of Congress under the Articles of Confederation and the Constitution. Was Congress more or less powerful under the Articles of Confederation?

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Definitions:

End-Of-Period Net Income

The net income calculated at the end of an accounting period, reflecting the total earnings after accounting for all expenses and revenues.

Accounting Recognition

This refers to the process of recording financial transactions in the financial statements according to accepted accounting principles.

Cash Flow

The total amount of money being transferred into and out of a business, especially affecting liquidity.

Direct Method

A way to present the cash flow statement where actual cash flows from operating activities are listed directly.