What Was the MOST Profitable Form of Agriculture in the South

question 34

Multiple Choice

What was the MOST profitable form of agriculture in the South prior to the rise of cotton?

• A) swine
• B) rice
• C) indigo
• D) tobacco
• E) sugar

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Definitions:

Cost Of Goods Sold

The total cost of manufacturing or acquiring the products sold by a company during a specific period, excluding indirect costs.

Acid-Test Ratio

A liquidity metric that measures a company's ability to pay off its current liabilities without relying on the sale of inventory.

Balance Sheet

A statement detailing an organization's assets, liabilities, and owners' equity on a certain date.

Sales On Account

Transactions in which a customer purchases goods or services but payment is delayed, typically recorded as receivables on the seller's balance sheet.