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:

Cash Receipts Journal

An accounting ledger that tracks all cash inflows or receipts of a business over a period.

Debit To Cash

An accounting entry that increases the cash balance in the company's ledger.

Collections From Customers

The process of receiving payments from customers for goods or services provided or sold.

Control Accounts

General ledger accounts that summarize and control the total of individual accounts found in subsidiary ledgers.