In 1790, There Were Only Three Banks in the U

question 5

Multiple Choice

In 1790, there were only three banks in the U.S. By 1811, there were 88. Most of these new banks were

• A) created and operated by the federal government.
• B) created and operated by state and local governments.
• C) private-sector, state-chartered banks.
• D) branches of banks with English charters.

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Definitions:

Variable Selling

Expenses related to selling that vary directly with the level of sales activity, such as commissions and shipping charges.

Financial Advantage

A benefit gained in financial terms, often seen as the edge that one company or entity has over its competitors in terms of cost, efficiency, or profitability.

Special Discounted Price

A reduced pricing offer made available to customers, often as a promotional or loyalty incentive.

Milling Machines

A type of machine tool used in the machining process, capable of performing cutting operations by moving a rotating cutter into the workpiece.