How Was Ocean Shipping Transformed by the Mid-Nineteenth Century

question 10

Multiple Choice

How was ocean shipping transformed by the mid-nineteenth century?

• A) There were more efficient, powerful engines.
• B) The average size of freighters increased from 200 to 7,500 tons.
• C) Steel hulls replaced wooden hulls.
• D) Propellers replaced paddle wheels.
• E) All of these

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Definitions:

Exchange Rates

The worth of a currency when exchanged for another currency.

Functional Currency

The currency of the primary economic environment in which an entity operates, usually determined by the currency that influences sales prices for goods and services.

Exchange Differences

Gains or losses resulting from the conversion of foreign currency transactions into the functional currency of a business.

Equity

The value of an owner's interest in a property, calculated by subtracting liabilities from the value of an asset.