Which of the Following Statements About the Impact of the California

question 31

Multiple Choice

Which of the following statements about the impact of the California Gold Rush is accurate?

• A) A growing inflow of gold seekers caused property rights to break down.
• B) "Miners' meetings" were raucous gatherings in which prospectors tended to spend much of their earnings..
• C) An example for a gold miner who strove to success even though he found no gold at all was Leland Stanford.
• D) For immigrants from Germany, France, Ireland, and China, the gold rush was an opportunity to break out of their restricted social station.

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Definitions:

Monetary Unit Assumption

An accounting principle that assumes transactions and events can be expressed in monetary units.

Dollar Amounts

Units of currency used in financial transactions or accounting to represent values or costs.

Fair Value

The value that could be gained from the sale of an asset or the expense of transferring a liability, in a regulated transaction among market players on the date of assessment.

Asset Acquired

An item of economic value obtained by a company, expected to provide future benefit by generating cash flows or reducing expenses.