Which of the Following Is True of How the New

question 117

Multiple Choice

Which of the following is true of how the new state constitutions in the Revolutionary era dealt with the issue of religious liberty?

• A) Several states finally allowed Jews to vote and to hold public office.
• B) States increased public funding of religion because they no longer had to win British approval to do so.
• C) Seven state constitutions began with a declaration of rights that included a commitment to "the free exercise of religion."
• D) Thomas Jefferson wrote a "Bill for Establishing Religious Freedom" in Virginia, but the House of Burgesses never adopted it.
• E) Deists and evangelicals fought with one another over whether church and state should be separate.

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Definitions:

Accelerated Cost Recovery

A method of depreciation used for tax purposes that allows for higher deductions in the early years of an asset's life.

Straight-Line Depreciation

Straight-Line Depreciation is a method where the cost of a tangible asset is reduced evenly over its useful life.

Deferred Tax Income Tax

A tax liability or asset that arises due to temporary differences between the financial reporting and tax bases of assets and liabilities.

Valuation Allowance

An accounting practice used to offset a deferred tax asset on the balance sheet if it is likely that some portion or all of the asset may not be realized.