Besides Inventing the Cotton Gin, What Did Eli Whitney Do

question 37

Multiple Choice

Besides inventing the cotton gin, what did Eli Whitney do that furthered American manufacturing?

• A) He developed railroad ties that were capable of supporting heavy weight.
• B) He showed how water could be used to power textile mills.
• C) He introduced the concept of interchangeable parts
• D) He marketed American manufacturing products in Europe
• E) He invented a heating process that removed impurities from iron.

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Definitions:

Consolidated Statements

Financial statements that combine the accounts of a parent company with those of its subsidiaries, presenting the financial performance and position of the group as a single entity.

Encumbrance System

A system used in accounting to reserve portions of appropriated funds to avoid overspending, primarily used by governments.

Estimated Commitments

Obligations or contracts that a company is likely to incur in the future based on past or planned activities.

Journal Entry

A record in accounting that represents the recording of a financial transaction in a journal.