According to the Crash Course video on the Industrial Economy, in which of the following ways did the US Civil War spur rapid in
dustrialization of the country? A. Forced introduction of a national currency.
B. Provided federal contracts to arms and clothing manufacturers.
C. Improved infrastructure particularly in the form of the transcontinental railroad and telegraph systems.
D. Led to the invention of the Bessemer process of steel production.
E. Introduced flight.
B. Provided federal contracts to arms and clothing manufacturers.
C. Improved infrastructure particularly in the form of the transcontinental railroad and telegraph systems.
Explanation:
The Civil War was a war between the then Northern States who comprised the Union and the then Southern States who comprised ti Confederacy in an attempt to get the Confederacy to rejoin the United States of America.
The war had many casualties but some good was done to the economy in terms of the following;
There was a forced introduction of a national currency known as the Greenbacks after Congress passed the Legal Tender Act of 1862.
The Federal Government increased spending in the economy by providing federal contracts to arms and clothing manufacturers to aid the troops.
Improved infrastructure to enable information get to soldiers faster as well as to move soldiers faster especially in the areas of telegraph development and the construction of the transcontinental railroad.
If Cuba decides to open up trade with the world grapefruit market, the price of domestic Cuban grapefruit for consumers will Increase because the opening of trading with the world will decrease amount of grapefruit available for the people in Cuba thereby creating shortage which will lead to increase in price. Cuban exports of grapefruits will Increase by virtue of opening to the rest of the world.
In the given case the accounts were previously written off by debiting the Allowance for doubtful debts accounts now in order to revive these accounts receivable, we should Debit the Accounts Receivable and credit the Allowance for doubtful debts accounts. Hence the account to be credited is Allowance for doubtful debts accounts.
Hence the answer shall be Allowance for doubtful debts accounts
