Most "Plain Folk" of the Old South

question 21

Multiple Choice

Most "plain folk" of the Old South

• A) were subsistence farmers who owned at least one slave.
• B) were subsistence farmers who were passionately antislavery.
• C) were never able to move into the planter class.
• D) owned at least one slave.
• E) were passionately antislavery.

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Definitions:

General Journal Entry

A general journal entry is a record of financial transactions in the accounting records of a business.

Notes Payable

This refers to a written promise to pay a certain amount of money, usually including interest, by a specific date, and is recognized as a liability on a company's balance sheet.

Effective Interest Method

An accounting practice used to allocate loan or bond interest expense over the life of the loan or bond based on the loan's amortized cost.

Interest Payment

The amount paid by a borrower to a lender as compensation for the use of borrowed money, usually expressed as a percentage of the principal amount.