The Beginning of Hostilities in 1775 Found the Colonies Generally

question 108

True/False

The beginning of hostilities in 1775 found the colonies generally unprepared for war.

---

Definitions:

Profit and Loss

A financial statement that summarizes revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.

New Partnership

A business arrangement where two or more individuals or entities agree to share the profits and losses of a newly formed business venture.

Contribution

In financial contexts, it refers to the amount an individual or entity contributes towards savings, investments, or the capital of a company.