Under the Rule of Augustus, the Roman Empire

question 121

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 concentrate in the hands of the Senate.

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Definitions:

Trial Balance

An accounting report that lists the balances of all ledgers accounts in order to verify that total debits equal total credits.

Factoring Arrangement Without Recourse

A financial transaction in which a business sells its receivables to a third party (a factor) at a discount, without the seller being responsible if the debtor fails to pay.

Loss on Sale of Receivables

A financial loss incurred when the sale price of accounts receivable is less than their carrying amount on the balance sheet.

Allowance for Doubtful Accounts

A contra-asset account that reduces the total accounts receivable on the balance sheet, accounting for estimated uncollectible debts.