Which of the Following Was True of Standard Oil in the 1890s

question 31

Multiple Choice

Which of the following was true of Standard Oil in the 1890s?

• A) It was not as strong as it had been in the 1880s.
• B) It controlled more than 90 percent of the oil business.
• C) It had cut its workforce to 50,000 people.
• D) It was broken up into a number of smaller companies by the federal government.

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Definitions:

Petty Cash Fund

A small amount of cash on hand used for covering minor expenses, typically managed by a designated petty cash custodian.

Office Supplies

Consumable items and minor equipment used in an office setting, such as paper, pens, and staplers.

Petty Cash

Petty cash is a small amount of cash on hand used for covering minor, incidental expenses within a business.

Journal Entry

A record of a business transaction in the accounting journal that shows the accounts and amounts debited and credited.