Which of the Following Statements Is True of the History

question 52

Multiple Choice

Which of the following statements is true of the history of American political parties?

• A) Political parties were embraced by America's founding fathers as a necessary element of a functioning democracy.
• B) The role of political parties was clearly defined by America's founders.
• C) Two major political factions were formed in America even before the Constitution was ratified.
• D) Throughout the course of American history, the major political parties have not changed their ideologies.
• E) The Democratic Party was the first political party in America.

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Definitions:

Fair Value

What is expected as profit from selling an asset or what is required as payment to transfer a liability in a smooth market transaction on the established measurement date.

Costs To Sell

Expenses directly associated with the disposition of an asset, including legal, broker's, and advertising fees, which can reduce the profit realized on the sale.

External Evidence

Information obtained from independent sources outside an entity that can be used to support financial statement assertions.