Final answer:
The compound Cr₂(SO₄)₃ is correctly named chromium(III) sulfate, indicating the +3 oxidation state of chromium.
Step-by-step explanation:
The compound Cr₂(SO₄)₃ is known as chromium(III) sulfate. The Roman numeral (III) indicates the oxidation state of chromium, which is +3 in this compound. Each sulfate ion (SO₄²⁻) has a -2 charge, and because there are three sulfate ions, their total charge is -6. To balance the charges, two chromium ions with a +3 charge are needed, resulting in the formula Cr₂(SO₄)₃.