Which of the Following Was One of the Many Consequences

question 8

Multiple Choice

Which of the following was one of the many consequences of the "putting out" system?

• A) the rise of foreign trade as the most inexpensive means of supplying textiles
• B) the ability for rural people to earn income in the winter months
• C) the growth of barter and credit economies
• D) decreased contact between peasants and city-dwellers
• E) the increase of full-time subsistence agriculture in the land bordering the Low Countries

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Definitions:

Short-term Creditors

Lenders or entities from whom a company has borrowed money or resources that are to be repaid within one year.

Liquidity

The ability of an asset to be quickly converted into cash or an entity's capacity to meet its immediate and short-term obligations.

Unusual Items

Non-recurring or uncommon transactions that are outside the usual business operation, which might distort the financial statements if not separately disclosed.

Income Statement

A financial statement that reports a company's financial performance over a specific period of time, detailing revenues, expenses, and profits or losses.