Use This Figure for the Questions That Follow

question 49

Multiple Choice

Use this figure for the questions that follow.

-What country was the primary colonial power in Latin America?

• A) Spain
• B) Britain
• C) Portugal
• D) United States
• E) the Netherlands

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Definitions:

Journal Entries

Written records of the financial transactions and events of a business, used to document and track the financial impact on its accounts.

Perpetual Inventory System

A financial recording technique that immediately documents inventory sales or acquisitions through computerized point-of-sale systems and software for managing enterprise assets.

Administrative Expenses

The costs related to the general administration of a business, such as salaries of senior executives, accounting, human resources, and information technology.

President's Salaries

Compensation or wage paid to the president of a company, often reflecting their role's responsibility and level of professional experience.