All of the Following Were Technological Advances for Railroads Except

question 61

Multiple Choice

All of the following were technological advances for railroads except the

• A)move from iron to steel tracks.
• B)adoption of knuckle couplers
• C)use of automatic signals.
• D)introduction of air brakes.
• E)switch from the open-hearth to the Bessemer process in steel mills.

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Definitions:

Credit Sales

Transactions where goods or services are sold and payment is deferred to a future date, typically involving the issuance of an invoice.

COGS

COGS, or Cost of Goods Sold, represents the direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Payables Turnover Rate

An efficiency ratio that measures how quickly a company pays off its suppliers, calculated as cost of goods sold divided by average accounts payable.

Accounts Payable Balance

The total amount of short-term liabilities or obligations a company owes to its creditors or suppliers.