Which of the Following Statements Is True of the Textile

question 24

Multiple Choice

Which of the following statements is true of the textile plant established in Waltham, Massachusetts, in 1813?

• A) It brought together the mechanized processes of spinning yarn and weaving cloth under one roof.
• B) It refused to pay wages to its workers.
• C) The state government owned it and the British destroyed it in the War of 1812.
• D) It predominantly employed enslaved Africans.
• E) It manufactured thread, which it then sold to artisan weavers who worked at home.

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Definitions:

Treasury Stock

Shares that were issued and subsequently reacquired by the company, reducing shareholders' equity.

No-par Common Stock

Shares of common stock issued without a specified face value or par value, where the entire amount paid for the shares is considered legal capital.

Par Preferred Stock

A class of preferred shares issued at a designated face value, often affecting aspects of dividend payments and company equity structure.

Cash

Liquid funds available for use in the form of currency or bank balances.