Which Piece of Legislation Created the Basic Unit of Settlement

question 39

Multiple Choice

Which piece of legislation created the basic unit of settlement in the territory north of the Ohio River?

• A) Articles of Confederation
• B) Ordinance of 1785
• C) Connecticut Compromise
• D) Northwest Ordinance
• E) Federal Constitution of 1787

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Definitions:

Domestic Corporation

A corporation that is incorporated under the laws of the country in which it is doing business.

Taxable Income

The portion of income subject to taxes after adjustments, deductions, and exemptions are applied to gross income.

FMV

The fair market value, or the price that property would sell for on the open market between a willing buyer and a willing seller.

Complete Liquidation

The process of closing a business by selling all assets, paying off creditors, and distributing any remaining assets to shareholders or owners.