After Emancipation, Who Was Responsible for Paying for the Land

question 92

Multiple Choice

After emancipation, who was responsible for paying for the land given to freed serfs?

• A)The tsar's government
• B)The Russian people as a whole
• C)The former landowner
• D)The village commune
• E)Individual landowners

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Definitions:

Notes Receivable Account

An account on the balance sheet representing claims against others for money, goods, or services to be paid within a specified period.

Notes Receivable

Claims for which formal agreements of credit are made between borrowers and lenders, often involving interest.

Journal Entry

A record that captures all the financial transactions of a business, displaying debits and credits in the accounting system.

Aging Method

An accounting technique used to estimate the amount of a company's bad debts based on the age of its receivables.