Which of the Following Is True of the Depression of the 1890s

question 22

Multiple Choice

Which of the following is true of the depression of the 1890s?

• A) It did not affect the banking industry in the United States.
• B) It was not felt nationally but was confined to the South and West.
• C) Its magnitude resulted in large part from the interdependence of various sectors of the American economy.
• D) Most American farmers were able to escape the depression's effects.

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Definitions:

Natural Resource

Assets derived from the earth, such as minerals, forests, and water, which are used to produce goods and services.

Depletion Expense

The allocation of the cost of natural resources over their useful life, representing the exhaustion of mineral, oil, or gas deposits.

Mineral Deposit

A naturally occurring accumulation of minerals that can be extracted for economic benefit.

Journalize

The act of recording transactions in an accounting journal, noting the debit and credit aspects of each transaction.