When the Alliance with France Was Formalized, the Americans Were

question 3

Multiple Choice

When the alliance with France was formalized, the Americans were able to gain all of the following except  

• A) access to large sums of money.
• B) double the size of their fighting forces.
• C) avail themselves of French naval strength.
• D) immense amounts of equipment.
• E) a negotiated peace treaty with the British.

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Definitions:

Bank Loan

A sum of money lent by a bank to a borrower at a specified interest rate for a fixed period.

Trust Receipt

A document that acknowledges the receipt of goods by a person who is borrowing funds from a lender with the goods as collateral, with an agreement to pay the lender back upon the sale of the goods.

Cash Cycle

Also known as the cash conversion cycle, it measures the time it takes for a company to turn its inventory into cash flows from sales.

Accounts Payable Period

The Accounts Payable Period is the average time it takes for a business to pay off its creditors, indicating the efficiency of its payment process.