Which of the Following Was True of American Cities in 1790

question 100

Multiple Choice

Which of the following was true of American cities in 1790?

• A)There were fifty cities with populations exceeding 10,000.
• B)The largest cities were all seaports.
• C)International commerce had yet to affect the composition and location of the largest cities.
• D)Only twenty percent of the nation's population lived in cities.
• E)A city was defined as having at least 10,000 people.

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Definitions:

Prior Period Adjustment

Adjustments made to a company's financial statements to correct previously made errors in those statements from earlier periods.

Cumulative Preferred

Refers to preferred stock where dividends accumulate if not paid out, with these unpaid dividends required to be paid out before any dividends can be issued on common stock.

Treasury Stock

Shares that were issued and subsequently reacquired by the issuing company, reducing the amount of outstanding stock.

Income Statements

A financial statement that shows a company's revenues, expenses, and net income over a specific period, summarizing its financial performance.