The Three-Fifths Compromise Is Still in Effect Today

question 60

True/False

The Three-Fifths Compromise is still in effect today.

---

Definitions:

Amortization

The process of spreading out a loan or intangible asset cost over a specific period of time for accounting and taxation purposes.

Generally Accepted Accounting Principles

A collection of commonly-followed accounting rules and standards for financial reporting.

Straight-Line Method

A way of calculating equal depreciation expenses for an asset over its useful life.