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What was happening to farmers who could not pay their debt?
Farmers that could not pay their debts, the amount of land they had was used to paythem off.
In Tennessee is a spouse responsible for debts occurred during the marriage?
Yes, in Tennessee a spouse is responsible for debts that occurred during the marriage. An attorney can help you understand the law and what debts are payable by each party.
How does relevance of the concept of prudence to bad debts and the provision for doubtful debts?
The prudence concept assumes that the worst can happen and tries to account for it in the accounts. The provision for doubtful debts is an estimated percentage of debtors that are not expected to pay during the year. All the debtors may pay up during the year, meaning that the provision for doubtful debts was unnecessary, but it still lets the companies account for any possible bad debts during the year.
What was the effect of buying on credit during the 1920s?
During the 1920s, buying on credit contributed to a significant increase in consumer spending and economic growth, as it allowed individuals to purchase goods they might not have been able to afford upfront. However, this practice also led to unsustainable levels of debt, which became problematic when the stock market crashed in 1929. The reliance on credit exposed vulnerabilities in the economy, ultimately contributing to the onset of the Great Depression as many consumers struggled to repay their debts.
What was a result of the shock market crash framers problems and the overuse of credit?
The shock market crash, coupled with farmers' problems and the overuse of credit in the late 1920s, led to widespread financial instability and economic hardship. Many farmers faced bankruptcy due to falling crop prices and debts they could not repay, exacerbating the agricultural crisis. This situation, along with the stock market collapse, contributed to the onset of the Great Depression, resulting in soaring unemployment and a significant contraction of the economy. Ultimately, it highlighted the dangers of over-leveraging and the interconnectedness of various economic sectors.
Describe the farmers situation in the 1920s?
Demand for crops fell as farmers' debts rose.
Describes the situation of farmers in the 1920s?
Demand for crops fell as farmers' debts rose.
What describes the situation of farmers in 1920s?
Demand for crops fell as farmers' debts rose.
Why did farmers experience financial problems during the roaring twenties?
During the 1920s the farmers' debts increased as a result of the crash of the stock markets. This is the period in history which was known as the Great Depression.
Why were the 1920s a difficult time for many farmers in the US?
The 1920s were a difficult time for many farmers in the US due to overproduction of crops leading to falling prices, high debts incurred during World War I, competition from other countries, and the impact of the Great Depression in the late 1920s. These factors resulted in financial hardship for many farmers and forced some off their land.
How did farmers fare during the 1920s?
Farmers faced significant challenges during the 1920s, as the decade began with a post-World War I agricultural boom that quickly turned into a bust. Overproduction led to falling crop prices, and many farmers struggled with mounting debts and costs. The economic prosperity of the Roaring Twenties largely bypassed rural America, exacerbating the plight of farmers, who often faced foreclosure and financial ruin. This discontent contributed to social and political movements advocating for agricultural reform.
What happened to farmers debts The great depression and the new deal?
The Dust Bowl swept the farmers plants causing people to suffer with great money loss because many farmers couldn't pay for their debts when they borrowed money.
What did not intensify the debts the plains farmers had during the late 1800s?
inflation
What was the consequence for farmers during the dust bowl?
They were unable to pay their debts.
One of the major problems facing farmers in the 1920s was?
One of the major problems facing farmers in the 1920's was overproduction. Farmers were heavily in debt to pay for new, expensive machinery and began growing more produce in an attempt to cover their debts. Sales of agricultural goods saw a decline in the 1920's leaving the farmers with high debts and decreased sales.
What was a consequence for farmers during the dust bowl?
The gov. Took their land
What happened to farmers who couldn't pay their debts in Athens in the seventh century B.C?
They were sold into foreign slavery to pay for the debt. It was part of Solon's reforms in the early sixth century to cancel debts and recover these people where possible.
