The Most Significant Outcome of Shays's Rebellion Was That

question 16

Multiple Choice

The most significant outcome of Shays's Rebellion was that

• A) it showed that the federal government did not have the ability to put down a major rebellion.
• B) its supporters lost all respect for the federal government.
• C) it demonstrated that the federal government was incapable of settling the debt situation under the Articles of Confederation.
• D) the government of Massachusetts needed to have its power reined in.
• E) east coast merchants would have to be monitored carefully to ensure they didn't take over the government.

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Definitions:

Income Summary

An account used in the closing process to combine all income and expense accounts and show the period's net income or loss.

Perpetual Inventory System

An accounting method that records purchases and sales of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Delivery Expense

This refers to the costs associated with transporting goods from one place to another, including shipping fees, freight, and packaging costs.

Contra Revenue Accounts

Accounts that are used to record reductions in revenue, such as sales returns, allowances, and discounts.