By the Mid-Eighteenth Century,a Distinct Colonial Merchant Class Came into Existence

question 116

Multiple Choice

By the mid-eighteenth century,a distinct colonial merchant class came into existence in part because of

• A) the abolishment of the British Navigation Acts.
• B) the development of a substantial colonial manufacturing industry.
• C) illegal colonial trade in markets outside of the British Empire.
• D) new access by non-British ships to the colonial carrying trade.
• E) All these answers are correct.

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Definitions:

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, including balance sheet, income statement, and cash flow statement.

Operating Cycle

The duration of time from when inventory is acquired to when cash is collected from receivables, reflecting a company's purchase, production, and sales process.

Worksheet

A document used by accountants to organize and compile data for financial statements and other reports; often a tool for preparatory work.

Financial Statements

Formal records of the financial activities and position of a business, entity, or individual, including the income statement, balance sheet, and statement of cash flows.