Which of the Following Had the Highest Average Wealth Per

question 11

Multiple Choice

Which of the following had the highest average wealth per freeholder in Anglo-America by the time of the American Revolution?

• A) Virginia
• B) South Carolina
• C) Pennsylvania
• D) Massachusetts

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Definitions:

Investing Activity

Transactions involving the purchase and sale of long-term assets and investments, part of a company's cash flow statement that indicates how funds are used and generated.

Corporation

Business organization that is both a legal and accounting entity.

Operating Activities

Business activities directly related to the production and delivery of goods and services, which are reflected in the cash flow statement.

Insurance

A financial product that provides protection against losses or damages, in exchange for premium payments to the insurer.