Examples of Colonial Experience with Self-Governance, Which Prepared Americans for a Republic

question 7

Multiple Choice

Examples of colonial experience with self-governance, which prepared Americans for a republic, included all of the following except  

• A) New England town meetings.
• B) committees of correspondence.
• C) militia service.
• D) the relative equality of landowning farmers.
• E) the absence of a hereditary aristocracy.

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Definitions:

Nominal Accounts

Accounts that are closed at the end of each accounting period, including all income, expense, and withdrawal accounts.

Closing Process

The set of procedures undertaken at the end of an accounting period to prepare accounts for the next period, including closing temporary accounts to the permanent summary account.

Financial Statements

Consolidated documents that present the financial activities and condition of a business or individual, including the balance sheet, income statement, and cash flow statement.

Adjusted Trial Balance

A listing of all company accounts and their balances after adjustments, used to ensure that debit and credit balances are equal before generating financial statements.