The Largest Category of Laws in the Code of Hammurabi

question 46

Multiple Choice

The largest category of laws in the Code of Hammurabi focused on

• A) public officials' responsibilities.
• B) the terms under which it is acceptable to retaliate against an injustice.
• C) marriage and family.
• D) the disparate rules for upper and lower class members of society.
• E) military service obligations for male citizens.

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Definitions:

Journalizing

Journalizing is the process of recording transactions in the accounting journals as part of the double-entry bookkeeping system.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, ultimately resetting the temporary accounts for the new fiscal period.

Post-closing Trial Balance

A statement created after closing entries are made, listing all active accounts and their balances to ensure debits equal credits.

Asset Accounts

Accounts that represent tangible and intangible items of value owned by a business, which can include cash, receivables, inventory, equipment, and intellectual property.