The Origins of Accounting Are Generally Attributed to the Work

question 117

Multiple Choice

The origins of accounting are generally attributed to the work of

• A) Christopher Columbus.
• B) Abner Doubleday.
• C) Luca Pacioli.
• D) Leonardo da Vinci.

---

Definitions:

Income Tax Deductions

Expenses that can be subtracted from gross income to determine taxable income, thereby reducing the overall tax liability.

Forgery

The illegal act of creating, altering, or imitating objects, documents, or signatures with the intention to deceive.

Federal Common Law

Federal common law refers to laws developed by Federal courts in the absence of detailed statutory guidance, often based on precedent or principles derived from the U.S. Constitution.

Vicariously Liable

The legal principle where one party is held liable for the actions of another party, such as an employer for the acts of its employees.