The Whiskey Rebellion Resulted In

question 24

Multiple Choice

The Whiskey Rebellion resulted in:

• A) the repeal of the federal liquor tax
• B) declining support for the Republicans
• C) mass executions of the captured rebels
• D) the sending of a massive army to western Pennsylvania
• E) diminished respect for federal authority

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Definitions:

Income Statement

A financial statement that reports a company's revenues and expenses over a specific period, showing the net profit or loss.

Adjustments Column

Part of an accounting worksheet where entries are made to update account balances before preparing financial statements.

Retained Earnings

The portion of a company's profits that is kept or retained and not paid out as dividends to shareholders. Often reinvested in the business or used to pay off debt.

Income Summary Account

An account used to transfer the balances of temporary accounts to a permanent account at the end of an accounting period, summarizing revenue and expenses.