The Factory System Was First Introduced in Which Industry

question 48

Multiple Choice

The factory system was first introduced in which industry?

• A)cotton spinning
• B)wool textiles
• C)ironworks
• D)cotton weaving
• E)coal mining

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Definitions:

Cash Dividend

A portion of a company's earnings distributed to shareholders in cash.

Credit Balance

A situation in an account where the sum of credits exceeds the sum of debits, indicating the company owes money.

Retained Earnings

The portion of a company's profit that is held or retained and saved for future use, reinvestment, or debt repayment instead of being paid out as dividends to shareholders.

Stockholders' Equity

The ownership interest of stockholders in a corporation, represented by the residual assets after deducting liabilities.