The Land Ordinance of 1785 Provided for All of the Following

question 50

Multiple Choice

The Land Ordinance of 1785 provided for all of the following except  

• A) money from land sales should be used to pay off the national debt.
• B) the land should be surveyed before its sale.
• C) the territory should be divided into townships six miles square.
• D) the sixteenth section should be sold to support education.
• E) slavery should be prohibitedin the Old Northwest.

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Economic Profits

The disparity between total income and combined expenses, encompassing both out-of-pocket and hidden costs.

Economic Profits

The margin between an organization's complete earnings and its aggregate expenditures, covering both visible and hidden costs.

Implicit Costs

Implicit costs are the opportunity costs of using resources owned by the business for production instead of lending, selling, or renting them out.

Accounting Profits

The net income for a company determined by subtracting total expenses from total revenues, according to generally accepted accounting principles (GAAP).