Which Statement Best Summarizes the Relationship Between the Earliest North

question 135

Multiple Choice

Which statement best summarizes the relationship between the earliest North American settlements in the north and south?

• A) Southern settlements were the first to create strong export industries.
• B) Southern settlements were primarily rural, while Northern settlements were primarily urban.
• C) Northern settlements created strong export industries before Southern settlements did.
• D) People in Southern settlements were more community-minded, while people in Northern settlements aimed to be self-sufficient.

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Definitions:

Partnership

An approved manner of conducting business that involves multiple people sharing control and profits.

Loss On Realization

The loss recognized when assets are sold for less than their carrying amount during the liquidation of a company.

Noncash Assets

Assets that cannot be easily converted into cash, such as machinery, buildings, and inventory.

Capital Balances

The amount of money contributed to a company by its owners or shareholders plus retained earnings.