Which of These Was NOT a Factor in the British

question 60

Multiple Choice

Which of these was NOT a factor in the British construction of textile factories in India in the 1600s?

• A) To create a triangular trade and lessen the drain of gold from Britain.
• B) Because Indian labor was cheaper than British.
• C) They found it improved their buying power.
• D) Cloth was the only commodity of interest to British consumers.

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Definitions:

Income Summary Account

The income summary account is a temporary account used during the closing process to summarize the period's revenues and expenses before transferring the net income or loss to the owner's equity account.

Capital

Resources or assets that are used by a business to generate income and wealth over time, often referred to as the net worth of the business.

Revenue

The overall income obtained through the sales of products or services, which are integral to a company's principal operations.

Depreciation Expense

The allocated amount of an asset's cost expensed over its useful life to account for its decrease in value.