The Navigation Acts

question 33

Multiple Choice

The Navigation Acts

• A) required certain commodities to be traded within the British empire only.
• B) provided for the free trade of colonial goods, including tobacco, indigo and sugar.
• C) required all colonial trade to be carried on English vessels.
• D) were abolished in 1700.
• E) both a and c are correct.

---

Definitions:

Fair Market Value

The price at which an asset would sell in a competitive auction setting, representing the value between a willing buyer and seller with neither being under any compulsion to buy or sell.

Stockholders' Equity

The portion of a company's assets that belongs to shareholders after debts and liabilities have been settled.

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be converted to cash in the short term.

Operational Assets

Operational assets are the long-term assets that a company uses in the production of its goods and services, crucial for its core operations.