In What Way Did the Canton System Seek to Control

question 27

Multiple Choice

In what way did the Canton system seek to control trade?

• A) It allowed no official trade between Chinese and European merchants.
• B) It required European traders to have Chinese merchants act as guarantors for their good behavior and payment of fees.
• C) It required European merchants to check in at Canton before proceeding into China's interior to trade.
• D) It only allowed Dutch merchants to trade with China.

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Definitions:

Debit

An entry in the accounts that represents an increase in assets or expenses or a decrease in liabilities, equity, or revenue in a double-entry bookkeeping system.

Salary Expense

The total amount paid by a business to its employees for their services over a specific period.

Trial Balance Totals

The sum balances of all ledgers in a double-entry bookkeeping system, used to ensure that debits equal credits.

Normal Balances

Normal balances refer to the side (debit or credit) on which an increase in the account balance is recorded, based on double-entry accounting principles.