Answer the Following Questions

question 28

Multiple Choice

Answer the following questions :
-Executive Order 8802

• A)Identified by President Franklin D.Roosevelt as the most basic human rights.The president used these ideas to justify support for England during World War II,which in turn pulled the United States into the war.
• B)German political party led by Adolf Hitler,who became chancellor of Germany in 1933.Its ascent was fueled by huge World War I reparation payments,economic depression,fear of communism,labor unrest,and rising unemployment.
• C)Legislation that sought to avoid entanglement in foreign wars while protecting trade.It imposed an embargo on selling arms to warring countries and declared that Americans traveling on the ships of belligerent nations did so at their own risk.
• D)A naval base in Hawaii that was attacked by Japanese bombers on December 7,1941;more than 2,400 Americans were killed.The following day,President Roosevelt asked Congress for a declaration of war against Japan.
• E)Oversized clothing in fashion in the 1940s,particularly among young male African Americans and Mexican Americans.In June 1943,a group of white sailors and soldiers in Los Angeles,seeking revenge for an earlier skirmish with Mexican American youths,attacked anyone they found wearing this type of clothing,causing riots.
• F)A committee organized by isolationists in 1940 to oppose the entrance of the United States into World War II.The membership of the committee included senators,journalists,publishers,and well-respected figures such as the aviator Charles Lindbergh.
• G)Germany's campaign during World War II to exterminate all Jews living in German-controlled lands,along with other groups the Nazis deemed "undesirable." In all,some eleven million people were killed,most of them Jews.
• H)A small but vocal group of Americans who pushed for greater U.S.involvement in Europe.American Communist Party members,African American civil rights activists,and trade unionists,among other members of the coalition,encouraged Roosevelt to take a stronger stand against European fascism.
• I)An authoritarian system of government characterized by dictatorial rule,extreme nationalism,disdain for civil society,and a conviction that imperialism and warfare are principal means by which a nation attains greatness.The United States went to war against this system when it faced Nazi Germany under Adolf Hitler and Italy under Benito Mussolini during World War II.
• J)Native American soldiers trained to use Native languages to send messages in battle during World War II.Neither the Japanese nor the Germans could decipher the codes used by these Navajo,Comanche,Choctaw,and Cherokee speakers,and the messages they sent gave the Allies great advantage in the battle of Iwo Jima,among many others.
• K)An act that expanded the number of people paying income taxes from 3.9 million to 42.6 million.These taxes on personal incomes and business profits paid half the cost of World War II.
• L)Top-secret project authorized by Franklin Roosevelt in 1942 to develop an atomic bomb ahead of the Germans.The Americans who worked on the project at Los Alamos,New Mexico,among other highly secretive sites around the country,succeeded in producing a successful atomic bomb by July 1945.
• M)A group of interventionists who believed in engaging with,rather than withdrawing from,international developments.Interventionists became increasingly vocal in 1940 as war escalated in Europe.
• N)A political and military alliance formed in 1936 between German dictator Adolf Hitler and Italian dictator Benito Mussolini.
• O)An order signed by President Roosevelt in 1941 that authorized the War Department to force Japanese Americans from their West Coast homes and hold them in relocation camps for the rest of the war.
• P)An order signed by President Roosevelt in 1941 that prohibited "discrimination in the employment of workers in defense industries or government because of race,creed,color,or national origin" and established the Fair Employment Practice Committee (FEPC).
• Q)A meeting held in September 1938 during which Britain and France agreed to allow Germany to annex the Sudetenland-a German-speaking border area of Czechoslovakia-in return for Hitler's pledge to seek no more territory.
• R)The name given to the Allied invasion of northern France on June 6,1944.It was the largest amphibious assault in world history.The invasion opened a second front against the Germans and moved the Allies closer to victory in Europe.
• S)A press release by President Roosevelt and British prime minister Winston Churchill in August 1941 calling for economic cooperation,national self-determination,and guarantees of political stability after the war.
• T)Legislation in 1941 that enabled Britain to obtain arms from the United States without cash but with the promise to reimburse the United States when the war ended.The act reflected Roosevelt's desire to assist the British in any way possible,short of war.
• U)Popularly known as the GI Bill,legislation authorizing the U.S.government to provide World War II veterans with funds for education,housing,and health care,as well as loans to start businesses and buy homes.
• V)The law that gave President Roosevelt unprecedented control over all aspects of the war effort during World War II.
• W)Officially the Mexican Farm Labor Agreement (signed with Mexico),a federal program that brought hundreds of thousands of Mexican agricultural workers to the U.S.during and after World War II.The program continued until 1964 and was a major spur of Mexican immigration to the United States.

Apply the retail inventory method and understand its implications on inventory valuation.

Estimate inventory costs in situations of inventory destruction using the gross profit method.

Analyze the effects of net markups and markdowns on the cost-to-retail ratio and inventory valuation.

Assess the relevance and accuracy of inventory valuation methods for financial reporting.

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Definitions:

Intangible Assets

Assets that lack physical substance but have economic value due to rights, privileges, or advantages they confer to the business, such as patents, trademarks, and copyrights.

Amortized

The process of gradually reducing debt through regular payments over a set period, covering both the principal and interest.

Amortization Expense

The method of slowly expensing the original cost of a non-physical asset throughout its lifetime of use.