Franklin Is Studying the Social Structure of Medieval European Cities

question 56

Multiple Choice

Franklin is studying the social structure of medieval European cities and wondering about the differences between them and cities today. What difference is he likely to find between the medieval cities and contemporary cities?

• A) Medieval cities were more densely populated.
• B) Medieval cities had more social equality.
• C) Medieval cities were usually smaller.
• D) Medieval cities were more socially complex.

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Definitions:

Expense

Costs incurred in the process of generating revenue, reflected in the income statement.

Asset

An economic resource owned or controlled by an individual or corporation, expected to provide future benefits.

Liability

Economic responsibilities or liabilities an organization has to other parties, which require repayment over a period via the exchange of economic assets.

Equity

The value of an owner's interest in a property or business, calculated by subtracting liabilities from assets.