The Principal Resource That Spanish Conquistadors Sent Back from the Inca

question 5

Multiple Choice

The principal resource that Spanish Conquistadors sent back from the Inca Empire was:

• A)Slaves.
• B)Diseases.
• C)Tobacco.
• D)Gold.
• E)Sugar.

---

Definitions:

Completed Contract

An accounting method that recognizes revenue and expenses only when a contract is completed, not progressively over the life of the project.

Installment Method

An accounting method that recognizes revenue and expenses only when payments are actually received or made, typically used in sales with extended payment plans.

Deferred Gross Profit

The portion of gross profit that is earned but not yet recognized, often in installment sales.

Current Liability

A company's debts or obligations that are due within one year, including accounts payable, short-term loans, and other short-term financial obligations.