In Society's Basement in the South of 1860, There Were

question 31

Multiple Choice

In society's basement in the South of 1860, there were nearly ____ million black human chattels.  

• A) 1
• B) 2
• C) 4
• D) 8
• E) 10

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Definitions:

Prepaid Rent Expense

An account representing rent payments made in advance for future periods, which is gradually expensed over the benefit period.

Contra-Asset

An asset account where the balance is expected to be a debit balance but is instead a credit balance, such as accumulated depreciation.

Worksheet

A spreadsheet used by accountants to prepare adjusting entries, financial statements, and to ensure the accounts balance before closing.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis and is proficient in financial reporting and regulation.