As of the Mid-1700s, Cities in England Still Did Not

question 34

Multiple Choice

As of the mid-1700s, cities in England still did not have an organized law enforcement system. When crime grew so common as to become unbearable, what did city officials do?

• A)called on landowners
• B)called in the military
• C)turned a group of men into professional law enforcement agents
• D)selected one man from each parish to be a constable

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Definitions:

LIFO Inventory

LIFO inventory is a method of inventory valuation where the most recently produced or purchased items are recorded as sold first, potentially reducing taxes in periods of inflation.

Sales Exceed Production

A situation where the demand for a company's products surpasses its current production capacity or available inventory.

Variable Costing

An accounting method that only includes variable costs—costs that vary with production levels—when calculating the cost of producing a good or service.

Net Operating Income

The profit generated from a company’s everyday business operations, calculated by subtracting operating expenses from revenue.