Match the Term with the Definition

question 64

Multiple Choice

Match the term with the definition.
-Political party that evolved out of the National Republicans after 1834. With a Northeast power base, it supported federal action to promote commercial development and generally looked favorably on the reform movements associated with the Second Great Awakening.

• A)American Temperance Society
• B)Democrats
• C)Erie Canal
• D)Indian Removal Act of 1830
• E)Lowell mills
• F)New York Female Moral Reform Society
• G)nullification
• H)second Bank of the United States
• I)Second Great Awakening
• J)Trail of Tears
• K)Whigs

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Definitions:

Credit Period

The amount of time the buyer is allowed in which to pay the seller.

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under previous invoices.

Percent Of Cash Discount

The percentage reduction in price offered for prompt payment of invoices to encourage early settlement of accounts payable.

Normal Credit Balance

The expected or usual balance of a specific account, where liability, equity, and revenue accounts typically have credit balances.