Under the Rule of Augustus, the Roman Empire

question 58

Multiple Choice

Under the rule of Augustus, the Roman Empire

• A)was a principate, with Augustus acting as an equal co-ruler with the Senate.
• B)returned to its traditional republic institutions.
• C)turned towards an absolute monarchy, with the princeps overshadowing the Senate.
• D)experienced a series of civil wars, making Augustus unpopular among the citizenry.
• E)became an oligarchy, with political power increasingly concentrated in the hands of the Senate.

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Definitions:

Ending Inventory

The complete worth of goods on the market at the closure of a bookkeeping period.

First-In, First-Out (FIFO)

An accounting method where the cost of the earliest inventory items purchased are the first to be recognized in determining cost of goods sold.

Perpetual Inventory System

A system of maintaining inventory records that updates the balance of inventory after each purchase or sale in real time.

Ending Inventory

The total monetary value of products available for transaction at the end of a financial cycle.