Use the Following to Answer Questions

question 63

Multiple Choice

Use the following to answer questions :
-cottage industry

• A)The idea that the sun, not the earth, was the center of the universe.
• B)A law formulated by Galileo stating that motion, not rest, is the natural state of an object and that an object continues in motion forever unless stopped by some external force.
• C)Newton's law that all objects are attracted to one another and that the force of attraction is proportional to the object's quantity of matter and inversely proportional to the square of the distance between them.
• D)A theory of inductive reasoning that calls for acquiring evidence through observation and experimentation rather than reason and speculation.
• E)An intellectual and cultural movement in late-seventeenth- and eighteenth-century Europe and the wider world that used rational and critical thinking to debate issues such as political sovereignty, religious tolerance, gender roles, and racial difference.
• F)An idea, espoused by John Locke, that all human ideas and thoughts are produced as a result of sensory impressions.
• G)A group of French intellectuals who proclaimed that they were bringing the light of knowledge to their fellow humans.
• H)Belief in a distant, noninterventionist deity, shared by many Enlightenment thinkers.
• I)A concept associated with Rousseau, referring to the common interests of all the people, who have displaced the monarch as the holder of sovereign power.
• J)The theory, associated with Adam Smith, that the pursuit of self-interest in a competitive market would lead to rising prosperity and greater social equality, rendering government intervention unnecessary and undesirable.
• K)Term coined by historians to describe the rule of eighteenth-century monarchs who, without renouncing their own absolute authority, took up the call to reform their governments in accordance with the rational and humane principles of the Enlightenment.
• L)A Jewish Enlightenment movement led by Prussian philosopher Moses Mendelssohn.
• M)The controversial process of fencing off common land to create privately owned fields that increased agricultural production at the cost of reducing poor farmers' access to land.
• N)Manufacturing with hand tools in peasant dwellings and work sheds, a form of economic activity that became important in eighteenth-century Europe.
• O)An idealized intellectual space that emerged in Europe during the Enlightenment. Here, the public came together to discuss important social, economic, and political issues.
• P)Regular social gatherings held by talented and rich Parisian women in their homes, where philosophes and their followers met to discuss literature, science, and philosophy.

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Definitions:

Periodic LIFO

An inventory valuation method applied at the end of an accounting period that assumes the last items added to inventory are the first sold.

Ending Inventory

The total value of unsold goods held by a company at the end of an accounting period.

Inventory System

Methods and procedures used to track materials, work-in-progress, and finished goods from acquisition through sale.

Weighted-Average

A calculation method where different data points are given different weights, often used in inventory valuation and cost accounting.