As a Result of the Development of the Cotton Gin

question 64

Multiple Choice

As a result of the development of the cotton gin

• A) slavery revived and expanded.
• B) American industry bought more southern cotton than did British manufacturers.
• C) slavery declined in the importance of the development of the South's economy.
• D) the South diversified its economy.
• E) the textile industry moved to the South.

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Definitions:

Liabilities

Financial obligations or debts that a company or individual owes, which are recorded on the balance sheet and must be settled over time.

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Subsidiary Corporation

A corporation wholly owned by another corporation (the parent corporation).

Shares

Units of ownership interest in a corporation or financial asset that provide for an equal distribution in any profits, if any are declared, in the form of dividends.