The Largest Railway Network in the World in 1865 Was

question 65

Multiple Choice

The largest railway network in the world in 1865 was in

• A) Great Britain.
• B) Canada.
• C) Mexico.
• D) Japan.
• E) the United States.

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Definitions:

Accounts Receivable Written Off

The removal of accounts receivable from financial records when they are deemed uncollectible, impacting the net income and asset value reported.

Sales Returns

Transactions where customers return previously purchased products, typically resulting in a refund or credit issued by the selling entity.

Factoring with Recourse

A financial transaction where a business sells its accounts receivable to a third party (factor) but remains responsible if the debtor does not pay.

Sales Return

Goods returned by the buyer to the seller due to issues like defects or dissatisfaction, reversing a portion of sales.