Following the Declaration of War

question 52

Multiple Choice

Following the declaration of war:

• A) a surge of volunteerism allowed the repeal of the Selective Service Act to end the draft
• B) men between the ages of eighteen and forty-five were drafted
• C) all men and women between the ages of eighteen and forty-five were drafted
• D) men between the ages of eighteen and twenty-five were drafted
• E) the draft was enacted for the first time in American history

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Definitions:

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations by comparing its current assets to its current liabilities.

Note Payable

A written promise to pay a specified amount of money, usually with interest, at a future date.

Account Payable

An account payable is a liability representing an amount owed by an entity to a supplier or creditor for goods or services received but not yet paid for.

Return on Assets Ratio

The Return on Assets Ratio measures a company's ability to generate earnings from its assets, calculated by dividing net income by the average total assets.