In What Way Did the Canton System Seek to Control

question 27

Multiple Choice

In what way did the Canton system seek to control trade?

• A) It allowed no official trade between Chinese and European merchants.
• B) It required European traders to have Chinese merchants act as guarantors for their good behavior and payment of fees.
• C) It required European merchants to check in at Canton before proceeding into China's interior to trade.
• D) It only allowed Dutch merchants to trade with China.

---

Definitions:

Asset Account

An account that tracks resources owned or controlled by a business or individual which have economic value.

Unearned Items

Income received for goods not yet delivered or services not yet provided, considered a liability until the goods or services are delivered.

Adjusting Journal Entry

Adjusting journal entries are made in the accounting records to correct or allocate transactions in the appropriate accounting period for accurate financial reporting.

Expense

An outflow of assets or incurring of liabilities resulting from a company's operations, intended to generate revenue.