The Stage Was Set for a Cataclysmic Shift in the Course

question 39

Multiple Choice

The stage was set for a cataclysmic shift in the course of history when  

• A) Europeans increasingly demanded less expensive goods from Asia.
• B) Africa was established as a source of slave labor.
• C) the Portuguese demonstrated the feasibility of long-range ocean navigation.
• D) the Renaissance nurtured a spirit of optimism and adventure.
• E) All of these

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Definitions:

Journal Entry

The recording of financial transactions in the journal as part of the accounting process, where each transaction includes a debit and a credit.

Expected Useful Life

The estimated length of time an asset will be used in normal business operations.

Depreciation Calculation

The process of allocating the cost of a tangible asset over its useful life.

Placed In Service

The point in time when an asset is ready and available for its intended use, often marking the start of depreciation or amortization for accounting purposes.