What Is Not Correct About the Northern U

question 16

Multiple Choice

What is not correct about the Northern U.S. abolitionist movement?

• A) Northern slaveholders could sell their slaves to the south.
• B) Slave owners in the North suffered significant economic loss because slaves were given their freedom much sooner than in the South.
• C) Most Northern states freed slaves after they had reached a minimum age.
• D) In most northern states freedom was granted over a gradual period of time.

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Definitions:

Refund Liability

An obligation recorded by a company to reflect anticipated refunds to customers for returned or unsatisfactory products.

Refund Liability

An obligation to return funds received from customers in the event of product returns or dissatisfaction, represented as a liability on the balance sheet.

Deferred Revenue Account

An account on a company's balance sheet that represents payment received from customers for goods or services not yet delivered or completed.

Contra Asset Account

An asset account where its balance is a negative figure that is subtracted from the balance of its related accounts on the balance sheet.