Which of the Following Was True of European Cities in the 19th

question 5

Multiple Choice

Which of the following was true of European cities in the 19th  century?

• A)Poverty became much more visible due to the increased number of poor.
• B)Most of the wealthy citizens had made their money in the Industrial Revolution.
• C)Material life improved for all classes.
• D)The middle-class entertained with lavish style much the same as the aristocracy.
• E)The gap between the rich and poor declined during the Industrial Revolution.

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Definitions:

Closing Entries

journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby preparing the accounts for the next period.

Capital Account

A financial statement that shows the changes in a company's equity throughout an accounting period, including contributions from and distributions to owners.

Withdrawals Account

An account used to track money taken out of a business by its owner(s) for personal use.

Income Summary

An account used in closing process to collect all revenue and expense account balances before determining net income or loss.