The Babylonian Law Code Can Be Described as a

question 21

Multiple Choice

The Babylonian law code can be described as a

• A)humane code that took into consideration human mistakes.
• B)relativistic code that was subject to many interpretations.
• C)code created by a committee of lawyers.
• D)code based on retaliation.

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Definitions:

Permanent/Temporary

Categories of accounts in accounting, where permanent accounts have balances that are carried over into future periods, while temporary accounts are closed at the end of each accounting period.

Normal Balance

The side (debit or credit) of an account that is usually increased, indicative of the account type's nature in the accounting equation.

Financial Statement(s)

Reports that provide comprehensive information about a company's financial health, operations, and cash flows over a defined period, serving as a basis for financial analysis.

Permanent/Temporary

Describes the nature of employment or accounting entries; permanent implies longevity or continuity, whereas temporary indicates a limited duration or interim status.