The Work of Roger Ranson Has Shown That the Burden

question 8

Multiple Choice

The work of Roger Ranson has shown that the burden of the Navigation Acts on colonial trade to continental Europe

• A)was disproportionately large on the Southern colonies.
• B)amounted to 5 percent of colonial income.
• C)amounted to less than one percent of colonial income.
• D)Both a and b are correct.
• E)Both a and c are correct.

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Definitions:

Petty Cash Fund

A petty cash fund is a small amount of cash kept on hand for making immediate, low-cost expenditures, reducing the need for writing checks or using credit transactions.

Cash Short

A situation where the cash on hand is less than the expected amount or what is recorded in the books, often indicating errors or mismanagement.

Journal Entry

A record in an accounting journal that captures the financial transactions of a business, showing debits and credits for each transaction.

Petty Cash Account

A modest sum of money maintained readily available for small, urgent costs.