One of the Practical Reasons That Virtually All Prominent Candidates

question 47

Multiple Choice

One of the practical reasons that virtually all prominent candidates for the presidency and Congress run as Democrats or Republicans is that:

• A) the Constitution was specifically designed with a two-party system in mind.
• B) it is easier to get on the general election ballot as a major party candidate.
• C) most Americans want either a genuine liberal or conservative to represent them.
• D) most Americans do not trust candidates unaffiliated with a party.
• E) a minor-party candidate has never won a seat in Congress.

Analyze the impact of production and sales levels on net operating income under both costing methods.

Recognize the financial statement presentation and implications of absorption and variable costing methods.

Assess the effect of beginning and ending inventories on net operating income under absorption costing.

Identify the strategies for managing net operating income differences between absorption and variable costing.

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Definitions:

Educated Elite

Individuals who have achieved a high level of education and often hold positions of power or influence within society.

Crowd Action

Collective behavior by people gathered in a public space, often spontaneous and motivated by a common goal or grievance.

Tea Act

A 1773 act by the British Parliament granting the East India Company the right to sell tea to the American colonies free of the taxes that colonial tea sellers had to pay, leading to the Boston Tea Party.

Boston Tea Party

A protest by American colonists in 1773 against British taxation, in which they boarded British ships and dumped tea into Boston Harbor.