Who Gained Most from the Early Industrial Revolution, and Whose

question 35

Essay

Who gained most from the early Industrial Revolution, and whose lives were most adversely affected? Why?

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Definitions:

Credit Balance

An accounting situation where the sum of credits in an account exceeds the sum of debits, often seen in liability and revenue accounts.

Income Summary

An account used in the closing process that aggregates all revenues and expenses to determine the overall profit or loss.

Capital

The wealth, either financial or other assets, used by an individual or business to fund operations and facilitate growth.

Withdrawals

Amounts of money taken out from a business by its owners for personal use.