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Financial Accounting Canadian 2nd Edition Waybright Test Bank
Financial Accounting Canadian 2nd Edition Waybright Test Bank
2.1 Define accounts and understand how they are used in accounting
2) Account titles such as marketing expense and depreciation expense would be numbered starting with a
3.
Answer: FALSE
Diff: 1
LO: 2-1 Define accounts and understand how they are used in accounting
Skill: Recall
Blooms: Knowledge
3) An account numbered 321 would be considered a shareholders' equity account as it begins with a 3.
Answer: TRUE
Diff: 1
LO: 2-1 Define accounts and understand how they are used in accounting
Skill: Recall
Blooms: Knowledge
5) The shareholders' equity section would include the accounts such as retained earnings and revenues.
Answer: TRUE
Diff: 1
LO: 2-1 Define accounts and understand how they are used in accounting
Skill: Recall
Blooms: Knowledge
1
© 2016 Pearson Canada Inc.
7) Dividends are paid with cash to shareholders. Dividends are in what category of the chart of accounts?
A) Revenue
B) Assets
C) Shareholders' equity
D) Liabilities
E) Revenue
Answer: C
Diff: 2
LO: 2-1 Define accounts and understand how they are used in accounting
Skill: Recall
Blooms: Knowledge
2
© 2016 Pearson Canada Inc.
10) Which of the following would start with a 2 in the chart of accounts?
A) Income taxes to be paid and wages to be paid
B) Common shares and preferred shares
C) Cash and accounts receivable
D) Sales and fees revenue
E) Marketing expense and rent expense
Answer: A
Diff: 1
LO: 2-1 Define accounts and understand how they are used in accounting
Skill: Recall
Blooms: Knowledge
3
© 2016 Pearson Canada Inc.
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The Project Gutenberg eBook of Profile in black and white
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most other parts of the world at no cost and with almost no restrictions
whatsoever. You may copy it, give it away or re-use it under the terms
of the Project Gutenberg License included with this ebook or online at
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will have to check the laws of the country where you are located
before using this eBook.
Language: English
A FRANK PORTRAIT
OF SOUTH CAROLINA
By Howard H. Quint
PUBLIC AFFAIRS PRESS, WASHINGTON, D. C.
ABOUT THE AUTHOR
For the past eleven years Professor Howard H. Quint has been a member
of the faculty of the University of South Carolina where he specialized in
the teaching of American constitutional and intellectual history. Because he
believed that this book should be published but did not wish to cause
embarrassment to the University of South Carolina, a state-supported
institution, he resigned his position prior to publication.
Professor Quint was graduated from Yale University in 1940 and was
awarded an M.A. degree from Stanford University and a Ph.D. degree from
The Johns Hopkins University. During World War II he was associated with
the Foreign Broadcast Intelligence Service as a propaganda analyst and
with the Office of Strategic Services as a political and economic analyst. In
1954 he won second place in an American Historical Association
competition for the John H. Dunning Prize. In 1956 he was Smith-Mundt
lecturer in United States history at the National University of Mexico.
I
The Development of Race Relationships 1
II
The Case from Clarendon 12
III
The Emergence of Patterns 21
IV
The White Folks Fight Back 38
V
The Brotherhood of Segregated Men 55
VI
A Place in the Shade 71
VII
The New Nullification 92
VIII
Politics and Segregation 128
IX
Another War of Yankee Aggression 145
X
Collaborators, Eggheads, Do-Gooders, and Appeasers 167
XI
The Lost Cause Relost 181
References 187
Index 210
CHAPTER I
The present pattern of race relations for South Carolina was shaped in
the last quarter of the nineteenth century. In 1877 at the end of the
Reconstruction period the mould of segregation had yet to be rigidly
defined. Only in the last decade of the century was absolute segregation
established. During the Reconstruction years public schools were not
integrated, although Negro students attended the state university. In
personal and social relationships segregation was generally practiced but
more on the basis of social custom than by force of legislation. Largely if
not entirely ignored was the Civil Rights law which had been passed by the
Reconstruction legislature. This law, which remained on the statute books
until 1889, prohibited racial discrimination by “common carriers or by any
person engaged in a business, calling or pursuit” for which a federal, state
or municipal license was required.[5]
In the political area the establishing of Jim Crowism was slower though
no less effective and complete in its end result. Negroes voted until the
1890’s and were influential in the local government of several counties.
South Carolina sent three Negro congressmen to Washington after 1876;
one served until 1896. In 1882 nine Negroes sat in the state legislature, the
last Negro member of that body being defeated for reelection in 1902. Yet
these were the exception and not the rule for the Negro was in truth
virtually eliminated as a factor in state politics by the end of the 1880’s.
With the restrictions on Negro suffrage contained in the new state
constitution of 1895 and the adoption of the Democratic Party primary the
following year, the Negro was prevented from voting in the state. Yet, in
spite of the Negro’s all but complete disfranchisement, the fear that he
might be used for political purposes “prevented the whites from dividing
into two parties or from breaking out of the restrictions imposed by the
Democratic primary.”[6]
With the disfranchisement of the Negro, the repeal of the state Civil
Rights law and the establishment of absolute and legalized segregation, a
rigid system of caste based on race materialized as a means of race
control.[7] It was reflected in the segregation of schools, churches, and other
public and private organizations and institutions. The two races seldom
came into contact except in the relationship of employer and laborer. In no
sense was the concept of racial equality accepted by the dominant whites.[8]
The maintenance of absolute segregation frequently necessitated resort
to either the threat or use of force or violence. The threat was ever present
in the personal, economic, and political relationships between the races.
Fear of slave insurrections was replaced by fear of a “vague and unknown
thing,” social equality. As the nineteenth century ground to an end,
application of violence was frequently approved by “respectable” whites,
especially if Negroes were suspected or charged with murder or rape. The
Charleston News and Courier, for example, argued that the lynching of a
suspected murderer was “not mob law.” According to the paper’s
editorialist, “the brute placed himself outside the pale of the law and was
dealt with accordingly.”[9]
Segregation of the races in the state has been both a manifestation of
belief in racial superiority and a basic distrust of democracy. Ben Tillman
interpreted his election as governor as a triumph of “white supremacy over
mongrelism and anarchy.” In his inaugural address he denied “without
regard to color that ‘all men are created equal.’” It was not true then and it
was not true when Jefferson wrote it, he thundered.[10] Carlyle McKinley,
associate editor of the News and Courier, wrote in the 1880’s that in “works
of art, skill, science, invention, literature, in the whole field of human
enterprise, endeavor, design and discovery, in every respect that can be
named, the Negro is far behind the lowliest families of the white race.”[11]
The late W. W. Ball, among other things editor of the News and Courier and
Dean of the School of Journalism of the University of South Carolina,
declared that “every decent white man and woman” in the state maintained
and exercised the “right of treating all Negroes as inferiors.” In one of his
characteristic diatribes against democracy, he wrote that “universal and
unrestricted suffrage” was unthinkable. Safety demanded that South
Carolina “steer away from the infatuation even of universal white
democracy.”[12]
In 1944, twenty-five years after Ball made the above statement, the state
House of Representatives adopted a resolution which “indignantly and
vehemently” denounced all organizations seeking “the amalgamation of the
white and Negro races by co-mingling of the races on any basis of
equality.” Such were deemed “hostile to the existence and preservation of
the American Union of States.” Simultaneously, the legislators reaffirmed
their belief in and allegiance to “established white supremacy,” and pledged
“our lives and our sacred honor to maintaining it, whatever the cost.”[13]
In no other area have South Carolinians been so sensitive to outside
criticism as on the race issue. After the end of Reconstruction “outside
agitation” on racial problems was infrequent. It became even less so after
the Supreme Court in 1896 gave official legal blessing to racial segregation
in the Plessy v. Ferguson decision. However in the 1930’s and during the
Second World War, “agitation” was renewed for more civil rights for the
Southern Negro. This agitation inspired passage of the above cited
resolution by the state legislature. The latter demanded, “firmly and
unequivocally,” that “henceforth the damned agitators of the North leave
the South alone.”[14]