The Merchant Aristocracy That Controlled Carthage Was Unique Because It

question 44

Multiple Choice

The merchant aristocracy that controlled Carthage was unique because it

• A) allowed ambitious and successful individuals and families to gain political influence.
• B) was open only to a select group of people.
• C) monopolized power and wealth for itself.
• D) was the most authoritarian form of government.
• E) promoted trade.

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Definitions:

Average Collection Period

The average amount of time it takes for a business to receive payments owed by its customers for credit sales.

Sales on Account

Transactions where goods or services are sold and payment is deferred to a future date, typically recorded as accounts receivable.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered or used but not yet paid for.

Operating Cycle

The duration between the acquisition of inventory and the collection of cash from receivables, indicating the time needed to sell inventory and collect cash.