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Use the map (or maps) referenced in each question for your answer. On Map 20.3, consider the cities that had reached a population level of 100,000 by 1750. Are they all capitals of the states in which they are located? How many of those that reached 100,000 by 1850 were major industrial centers mentioned in the chapter?
Accrual Basis
An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.
Accounts Payable
Liabilities of a business that are due to creditors within a short period of time, usually for the purchase of goods and services.
Expenses
The cost of assets consumed or services used in the process of generating revenues.
Accounts Receivable
Money owed to a business by its customers for products or services delivered on credit.
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