All of the Following Are Correct About the Ming Dynasty

question 61

Multiple Choice

All of the following are correct about the Ming dynasty except

• A) it extended its rule into Mongolia and Central Asia.
• B) there were no contacts with Vietnam or Korea.
• C) the Great Wall was strengthened.
• D) there was considerable internal reform, including increased manufacturing.
• E) a series of fleets were sent across the Indian Ocean, including all the way to Africa.

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Definitions:

Temporary Accounts

Accounts that track transactions within a fiscal period and are reset to zero at the start of the next period, including revenues, expenses, and dividends.

Owner's Drawings

Withdrawals of a company's earnings by the owner for personal use, affecting the owner’s equity account in a separately held business.

Accumulated Depreciation

This accounts for the total depreciation expenses charged against a fixed asset since it was put into use, reflecting the decrease in value of the asset.

Income Summary

An account used in the closing process that summarizes revenues and expenses for a period, determining the net income or loss.