Following a Historic Battle in March 1862 with a Tiny

question 26

Multiple Choice

Following a historic battle in March 1862 with a tiny Union ironclad warship, the Monitor, the Confederate blockade runner, the Merrimack, was

• A) destroyed by Union troops to prevent its use as a slave ship.
• B) captured and used by Union troops to help restore the Federal blockade.
• C) destroyed by Confederate soldiers to keep it out of the hands of Union troops.
• D) retrofitted with multiple cannons that were utilized to sink several Union blockading ships.
• E) used to ferry both British and French troops across the ocean.

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Definitions:

Receivables

Receivables from clients to an enterprise for products or services that have been dispensed or used, but whose payments are pending.

Ending Cash Balance

The amount of cash a company has at the end of a financial period, reflecting its liquidity position.

Sales

The transactions of selling goods or services to customers, often measured over a specific time period like monthly sales.

Cost of Goods Sold

Direct costs attributable to the production of goods sold by a company, including materials and labor costs.