Which of the Following Was True of the Colonial Elite

question 46

Multiple Choice

Which of the following was true of the colonial elite?

• A) Like the mother country,the colonies had a titled aristocracy.
• B) They controlled colonial government.
• C) They often encountered financial trouble because they lacked connections to their counterparts back in the mother country.
• D) Most of them were as wealthy as,if not wealthier than,the British aristocracy.
• E) All of them were careful to marry outside their families.

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Definitions:

Paid-in Capital

The amount of money that shareholders have invested in a company through the purchase of stock, excluding the par value of the shares.

Treasury Stock

Shares that were previously issued and outstanding but have been repurchased by the issuing company and held in its own treasury.

Debit Balance

The remaining amount in a financial account that appears on the left side of the account ledger, indicating assets or expenses.

Dividends In Arrears

Outstanding dividends on cumulative preferred stock that have not been paid by the designated payment date.