How Did European Slave Traders First Obtain Slaves in Africa

question 29

Multiple Choice

How did European slave traders first obtain slaves in Africa in the fifteenth and sixteenth centuries?

• A) They attacked African peoples and forced prisoners of war to become slaves.
• B) They cooperated with African slave traders, who traded some of their captives to them.
• C) They brought Native American women to trade for African women.
• D) They traded tobacco from North America to African merchants in exchange for slaves.

Calculate the carrying value of bonds after amortization.

Differentiate between the effective-interest method and the straight-line method in terms of their impact on interest expense and bond carrying value.

Understand the concepts of bond discount and premium, and how they affect the carrying value of bonds.

Apply the criteria for recognizing a lease as an asset or liability.

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Definitions:

Double-Entry Bookkeeping

An accounting system in which the recording of each transaction affects two or more accounts and the total of the debits is equal to the total of the credits.

Debiting

The process of recording an entry on the left side of the accounting ledger, which increases asset or expense accounts and decreases liability, equity, or revenue accounts.

Crediting

The process of making an entry on the right side of an account in double-entry bookkeeping, indicating an increase in liabilities, equity, or revenue, or a decrease in an asset or expense.

Salaries Payable

A liability account representing amounts owed to employees for work performed and not yet paid.