In 1773, the Sons of Liberty Dumped Tea from the Dartmouth

question 1

True/False

In 1773, the Sons of Liberty dumped tea from the Dartmouth and two other ships into Boston Harbor in what would soon be referred to as the Boston Tea Party.

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Definitions:

Future Transactions

Financial dealings or agreements set to occur at a future date, often involving the purchase or sale of goods, services, or assets.

Separate Entity Assumption

Business transactions are separate from the transactions of owners.

Liabilities

Obligations owed by a business to individuals or other entities, ranging from loans and mortgages to accounts payable.

Continuity Assumption

An accounting principle that assumes the business will continue operating indefinitely, not being forced to cease operations or liquidate.