Discuss Three Ways That Leading Industrialists Transformed American Business in the Late

question 22

Essay

Discuss three ways that leading industrialists transformed American business in the late nineteenth century. Considering Ida Tarbell's criticism of John D. Rockefeller, should those industrialists be considered symbols of American business ingenuity or of ruthless business practices?

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Definitions:

Expense Account

A type of account used in accounting to track money spent or costs incurred by a business in its operational activities.

Straight-Line Method

A method of calculating the depreciation of an asset, which evenly spreads the cost of the asset over its useful life.

Residual Value

The estimated salvage value of an asset at the end of its useful life.

Double-Declining-Balance

A method of accelerated depreciation where an asset's book value is decreased at double the rate of its straight-line depreciation.