After 300 Years of Colonization, by the End of the 1800s

question 5

Multiple Choice

After 300 years of colonization, by the end of the 1800s, and prior to the wars of independence

• A) the caste and slavery systems remained strong.
• B) the caste system had disappeared.
• C) the caste and slavery systems were almost invisible.
• D) slavery was abolished.

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Definitions:

Financial Statements

Reports that summarize the financial condition and operations of a business, including balance sheet, income statement, and cash flow statement.

FIFO

First-In, First-Out, an accounting method for managing inventory and financial matters where the oldest inventory items are sold or used first.

Inventory Costing

A method used to assign costs to inventory items and determine the cost of goods sold during a period.

Purchase Order

A document issued by a buyer to a seller, specifying the types of products, quantities, and agreed prices for products or services the seller will provide to the buyer.