Homesteading

question 86

Multiple Choice

Homesteading:

• A)represented a wasteful system of allocating property rights over land.
• B)was an efficient way of colonizing the West.
• C)delayed the successful deployment of settlers by several years.
• D)insured that the land was obtained for free.

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Definitions:

Journal Entry

A record in bookkeeping that logs the debit and credit aspects of a financial transaction.

Retained Earnings

The portion of a business's profits not distributed to shareholders, reinvested in the business instead.

Push-down Accounting

An accounting method applied in business combinations where the purchase price of an acquired entity is reflected in the financial statements of the acquired company.

Business Combination

A transaction or event in which two or more businesses come together to form a single reporting entity, typically involving the acquisition of one by another.