The Major Source of Wealth Exploited by the Spaniards in the Americas

question 111

Multiple Choice

The major source of wealth exploited by the Spaniards in the Americas was

• A)gold.
• B)silver.
• C)tobacco.
• D)cotton.
• E)iron

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Definitions:

Consigned Party

The entity or person holding goods on behalf of another in a consignment agreement, where the goods are sold on the owner's behalf.

Weighted-Average Method

An inventory costing method that calculates the cost of ending inventory and cost of goods sold using the average cost of all similar items in inventory.

Net Income

The amount of money left after all expenses, taxes, and costs have been subtracted from total revenue; a key indicator of a company's profitability.

Current Prices

Prices of goods, services, or assets at the current time, without adjustment for inflation.