After the War of 1812, ____________

question 61

Multiple Choice

After the War of 1812, ____________.

• A) farmers in the North remained self-reliant and seldom participated in the emerging market economy
• B) more people in the North began to work for others in return for wages
• C) there seemed to be few economic differences between the North and the South
• D) the United States was immediately flooded with foreign imports, thus pushing many newly emerging domestic industries into bankruptcy

---

Definitions:

Statement of Net Position

A financial statement that displays an organization's assets, liabilities, and net position at a specific point in time, highlighting its financial health.

Statement of Revenue

A financial statement that shows the income earned by a company over a certain period of time.

Fiscal Year

A one-year period used for financial reporting and budgeting, which may or may not align with the calendar year.

General Fund Journal Entries

Entries in the accounting records that detail transactions involving the government's general fund, which covers most basic governmental activities.