By 1819, Which of the Following Was True

question 32

Multiple Choice

By 1819, which of the following was true?

• A)Slave states outnumbered free states.
• B)Free states outnumbered slave states.
• C)The Constitution expressly forbade slavery west of the Mississippi River.
• D)There was an equal number of slave and free states.
• E)All states were on a course to abolish slavery.

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Definitions:

Initial Franchise Fee

An upfront cost that a franchisee pays to a franchisor for the rights to use the brand and operate under the franchise agreement.

Recorded as Revenue

The recognition of income when earned by the company, typically upon delivery of goods or completion of services.

Installment Sales Method

The installment sales method is an accounting technique used to recognize revenue and expenses for sales made on credit, wherein income is recognized as installment payments are received.

Recognizing Profit

The process of formally acknowledging and recording income on the financial statements when it is earned, regardless of when the cash is received.