The English Navigation Act of 1651 Imposed ________

question 21

Multiple Choice

The English Navigation Act of 1651 imposed ________.

• A) taxes on all slave ships
• B) restrictions on who could ship to and from England and its colonies
• C) import duties on tea and sugar
• D) expensive licenses on anyone wanting to trade within the British Empire

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Definitions:

Leasing

A financial arrangement where a lessee pays the lessor for the use of an asset for a specified period of time, without owning the asset.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Net Advantage

The total benefits received minus the costs incurred from an investment or business decision.

Resale Value

The estimated market value of an asset at the future date when it is likely to be sold, often used in reference to vehicles and property.