Which of the Following Statements About the Articles of Confederation

question 116

Multiple Choice

Which of the following statements about the Articles of Confederation is INCORRECT?

• A)The Articles of Confederation included no federal court system.
• B)The Articles of Confederation included a provision for appointing a president.
• C)The Articles of Confederation allowed each state to coin or print its own money.
• D)The Articles of Confederation allowed the states to sign commercial treaties with foreign governments.

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Definitions:

Discounted Note

A promissory note whose face value has been reduced to reflect the effect of interest that it will earn.

GAAP

Generally Accepted Accounting Principles, which are a set of accounting standards and practices used to prepare financial statements.

Financial Instruments

Contracts that give rise to both a financial asset of one entity and a financial liability or equity instrument of another entity.