Which of the Following Is the Best Example of Direct

question 2

Multiple Choice

Which of the following is the best example of direct democracy in the United States?

• A)gerrymandering
• B)retrospective voting
• C)prospective voting
• D)referendum

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Definitions:

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overheads, payroll, taxation, and interest.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made at specific intervals, rather than continuously.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries are made, used to prepare financial statements.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts to permanent ones, preparing the company's books for the next period.