Which of the Following Was a Major Concern When California

question 6

Multiple Choice

Which of the following was a major concern when California applied for statehood?

• A)Whether California still had large gold reserves
• B)Whether California would disrupt the economic equilibrium of the country
• C)Whether California would enter the Union as a slave state or a free state
• D)Whether the country's transportation system was prepared to deal with the needs of a state that was far from the others
• E)Whether another potential state could be found to balance out whatever California decided about slavery

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Definitions:

Implicit Interest Rate

An interest rate inferred from leasing transactions or other contractual arrangements, calculated based on the present value of payments and the initial value of the leased asset.

Present Value Factors

A mathematical formula used to determine the present value of a series of future cash flows by applying a specific discount rate.

Capital Lease

A lease classified as a purchase by the lessee for accounting purposes, where the lessee essentially buys the leased asset.