Which of the Following Is Not One of the Reasons

question 53

Multiple Choice

Which of the following is not one of the reasons why the Confederacy expected assistance, or at least diplomatic recognition, from France or Great Britain?

• A) The French and British upper classes were thought to be sympathetic to the South.
• B) A permanent division of the United States would benefit European colonial designs in the Western Hemisphere.
• C) Britain depended on the South for four-fifths of its cotton.
• D) The British Prime Minister had secretly promised aid and recognition to Jefferson Davis in 1860.
• E) There was considerable diplomatic friction between Great Britain and the Union.

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Definitions:

Operating Income

Earnings before interest and taxes (EBIT), calculated by deducting operating expenses, including the cost of goods sold (COGS) and other operating expenses, from gross profit.

Fixed Overhead

A type of business expense that does not change with the level of production or sales, such as rent, salaries, and insurance.

Selling Costs

Expenses associated with the selling process, including advertising, sales commission, and shipping costs.

Operating Loss

A situation where a company's operating expenses exceed its revenue, indicating that it is not making a profit from its core business activities.