All of the Following Problems Posed an Immediate Challenge to the Young

question 34

Multiple Choice

All of the following problems posed an immediate challenge to the young nation,except

• A) It had amassed a huge debt from fighting for independence.
• B) It suddenly had vast lands to control in the west.
• C) Loyalists continued to attack the nation's central institutions with guerilla warfare.
• D) It had to recreate a system of trade after England's protections had been withdrawn.
• E) The revolutionary ideology of republicanism warned against a strong central authority that could address its issues forcefully.

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Definitions:

Receivership

A proceeding in which a receiver is appointed for an insolvent corporation, partnership, or individual to take possession of its assets for ultimate sale and distribution to creditors.

Bankruptcy

A legal proceeding involving a person or business unable to repay outstanding debts, resulting in the distribution of assets to creditors or relief of debts.

Settlement

Transfer of assets where nominal or no consideration is involved.

Bankruptcy

A legal process through which individuals or businesses unable to meet their outstanding financial obligations are provided relief from some or all of their debts.