The Cause for Failure of the Roanoke Colony

question 95

Multiple Choice

The cause for failure of the Roanoke colony

• A)was a severe food shortage.
• B)is historically inconclusive.
• C)deterred the English from another colonizing effort for forty years.
• D)was the death of the colony's governor.
• E)was a virulent malarial epidemic.

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Definitions:

Contra Account

A contra account is an account used in the general ledger to reduce the value of a related account when the two are netted together.

Accumulated Depreciation

The total amount of a company's asset value that has been allocated as depreciation expense since the asset was put into use.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus preparing the books for the next period.

Income Summary

An account used in the closing process that summarizes revenues and expenses for a period, transferring the net amount to retained earnings.