Which of the Following Is a Reason for the Rapid

question 131

Multiple Choice

Which of the following is a reason for the rapid manufacturing and commercial expansion experienced by the Northeast during the forty years following the War of 1812?

• A) The unparalleled natural increase in the population of the North and South increased demand for manufactured products.
• B) The federal government poured vast sums of money into the building of factories and the building of canals.
• C) Internal improvements in the Northeast dramatically reduced transportation costs.
• D) After the war most European nations refused to import goods to the United States, thus domestic manufacturing expanded rapidly in the Northeast to meet consumer demand.

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Definitions:

Allowance Account

A contra asset account that reduces the gross amount of receivables to reflect a more accurate value of expected collections.

Liability Account

An accounting record tracking obligations or debts that a company owes to others.

Credit Balance

Credit Balance refers to the amount of money that a company or individual has in their account that can credit against future purchases or borrowings.