The First English Navigation Act, Adopted During the Rule of Oliver

question 39

Multiple Choice

The first English Navigation Act, adopted during the rule of Oliver Cromwell:

• A) required the Royal Navy to use only Protestant navigators on its ships.
• B) aimed to wrest control of world trade from the Dutch.
• C) freed England's North American colonies from economic regulations (in order to stimulate prosperity).
• D) added New Netherland to the British empire.
• E) authorized several mapmaking expeditions to the New World.

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Definitions:

Total Assets

The total value of everything a company owns, including both current and non-current assets, used in its operations to generate revenue.

Accounting Equation

The foundational equation in accounting that represents the relationship between assets, liabilities, and owners' equity, expressed as Assets = Liabilities + Owners' Equity.

Electric Bill

A monthly charge for the consumption of electricity, typically issued by an electricity provider.

Accounting Equation

The foundational equation in accounting, representing the relationship between assets, liabilities, and equity (Assets = Liabilities + Equity).