In the Ancient World of the Greeks and Romans, Individual

question 14

Multiple Choice

In the ancient world of the Greeks and Romans, individual freedom was

• A) available to many but only because much of the world was barbaric.
• B) granted only to the minority made up of male citizens.
• C) open to all men and women in both societies.
• D) rejected as dangerous to the state.

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Definitions:

Net Income

The total profit of a company after all operating expenses, taxes, and interest are deducted from total revenue.

Normal Balance

The side of an account (debit or credit) that increases. For assets and expenses, it's usually the debit side, and for liabilities, equity, and revenue, it's typically the credit side.

Owner's Capital Account

An equity account representing the total investment of the owner in the business, including initial contributions and subsequent earnings, minus any withdrawals.

Asset Account

Accounts used in accounting to track the value of economic resources owned or controlled by an entity which can provide future benefits.