Which of the Following Is True of the Magna Carta?​

question 24

Multiple Choice

Which of the following is true of the Magna Carta?​ 

• A) It served as the first draft of America's written Constitution.​ 
• B) It established the principle of representative government. 
• C) It gave unrestricted power to monarchs. 
• D) It served private interests of the king rather than public interests. 
• E) It established the principle of limited government.

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Definitions:

Individual Accounts

Financial records or statements that pertain to a single individual or entity, detailing their financial transactions and position.

Deferred Tax Asset

An accounting term representing a future tax benefit that results from the difference between the accounting and tax treatment of a transaction, recognizable in future periods when taxes are settled.

Deferred Tax Liability

A tax obligation that a company owes but does not have to pay until a future date, often due to timing differences in recognizing income and expenses.

Consolidation Adjustment

Adjustments made to the financial statements of a parent company and its subsidiaries to eliminate intercompany transactions and balances for the purpose of consolidation.