Jamestown was the first chartered colony established by the Virginia Company of London. If you were young and found yourself working there, either searching for precious metals or toiling in the fields, what is the most likely reason you ended up there?
a. brought from England as an indentured servant
b. brought from Africa as a slave
c. captured among the indigenous people and used as a slave
d. traveled from England as a free volunteer to work in exchange for land
a. brought from England as an indentured servant
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Discuss whether the principal is liable in each of the following situations
a. Patricia hires Andrew, an attorney, to negotiate a contract to purchase some property. She agrees to pay him $75 an hour for his services, and he agrees to use his own office and secretarial staff to negotiate and draft the agreement. One day, Andrew is driving his own automobile to a meeting with Edward to discuss the purchase of the land that he owns. Andrew drives too fast for conditions and has a minor traffic accident that results in $600 damage to the other vehicle. b. Mel owns a retail store. He hires Sarah to work for him as a clerk in the home furnishings department. Mel instructs Sarah to make certain representations to customers regarding a microwave oven. Mel knows these misrepresentations are false, but Sarah does not. Henrietta buys a microwave from Sarah in reliance on the misrepresentations. c. ABC Inc. hires Keith as an outside salesman and instructs him to call on customers in a specified territory and to solicit orders for its products. One day Keith is driving the company car a little too fast for conditions on his way to call on a client. He accidentally drives the wrong way on a one-way street and has an accident with another vehicle that results in $6,000 in property damage and $30,000 in medical expenses. d. The A & B Machine Company (ABMC) hires John as an outside salesman for its computers. It sets high sales quotas for him and instructs him to beat up salesmen from competing firms in order to keep them away from ABMC customers. In order to meet his monthly sales quota, John roughs up Ralph, who is a salesman for a competing firm and then tells Ralph to find his own customers and to stay away from John's territory.
The contribution of equipment by a stockholder in exchange for common stock is an example of ________
A) investing activity B) financing activity C) operating activity D) non-cash investing and financing activity
Stockett, Inc has prepared its third quarter budget and provided the following data
Jul Aug Sep Cash collections $50,000 $39,700 $47,600 Cash payments: Purchases of direct materials 30,000 22,000 18,000 Operating expenses 12,300 8,700 11,700 Capital expenditures 13,000 24,400 0 The cash balance on June 30 is projected to be $4,500. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 4%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. How much will the company have to borrow at the end of August? A) $15,000 B) $5,000 C) $10,000 D) $20,000
You just bought a car and borrowed $15,000 for 5 years at 8% APR. Using the simple interest method; by the time you pay off this loan your total finance costs will be closest to which of the following?
A) $6,000 B) $3,249 C) $3,784 D) $1,200