Which of the Following Is Evidence of the Economic Growth

question 12

Multiple Choice

Which of the following is evidence of the economic growth of the Mediterranean city-states?

• A) Rapid population increase
• B) A new aristocratic culture featuring public displays of wealth
• C) The establishment of large bureaucracies
• D) The use of paper money to facilitate commercial exchanges

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Definitions:

Service Charge Expense

Costs incurred by a company for the services provided by another entity, often including bank fees or utilities.

Factoring Receivables

A financial transaction where a business sells its accounts receivable to a third party at a discount in exchange for immediate cash.

Allowance for Doubtful Accounts

A contra asset account on a company’s balance sheet that represents the amount of receivables it does not expect to collect.

Credit Sales

Sales transactions where the customer is allowed to pay at a later date, typically generating accounts receivable.