According to the Terms of the 1901 Platt Amendment

question 93

Multiple Choice

According to the terms of the 1901 Platt Amendment,

• A)Cuba could only form treaties with nations that were allied with the United States.
• B)the United States had the right to intervene in Cuba to protect life and property.
• C)Cuba was to be made a demilitarized region.
• D)the United States Congress had to approve each member of the Cuban legislature.
• E)Cuba was to be granted full political independence.

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Definitions:

Ending Inventory

At the close of an accounting cycle, the valuation of products set for sale, computed by taking the initial inventory, adding the acquisitions, and deducting the cost of goods sold.

Reported Net Income

The final profit figure stated in a company's financial statements, as reported to shareholders and used for earnings per share calculations.

Accrued Payroll

Salaries and wages that have been earned by employees but have not yet been paid by the company.

Consolidated Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as a single entity.