When They Settled in the New World in 1630,the Puritans

question 48

Multiple Choice

When they settled in the New World in 1630,the Puritans' first priority was to

• A) establish the Anglican Church in New England.
• B) generate sufficient profits to repay their British investors.
• C) create a reformed society that would model true Christianity in America.
• D) escape from England and begin to pursue full political independence from the British crown.

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Definitions:

Cost of Goods Sold

Represents the direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the product.

Ending Inventory

The total value of all inventory a company has in stock at the end of its fiscal period.

Beginning Inventory

The financial amount of goods up for sale at the start of an economic period.

Year 1

Often refers to the first year of operations for a business or the first year in a multi-year financial analysis.