Final answer:
The Three-Fifths Compromise allowed for 60 percent of the enslaved population to be counted for both congressional representation and federal taxation purposes.
Step-by-step explanation:
The correct statement that accurately describes the Three-Fifths Compromise is that a portion of the slave population was counted for the purpose of taxation and representation. Specifically, this compromise decided that 60 percent (three-fifths) of the enslaved population in each state would be accounted for when determining both the state's representation in Congress and its financial obligations for federal taxes, although no such taxes on enslaved individuals were actually levied. This was one of the critical compromises during the Constitutional Convention that balanced the political power between the northern and southern states, and it was deeply intertwined with the contentious issue of slavery in the United States.