Use the Following to Answer Questions

question 78

Multiple Choice

Use the following to answer questions :
-encomienda system

• A)In early modern Southeast Asia, a sum of money the groom paid the bride or her family at the time of marriage. This practice contrasted with the dowry in China, India, and Europe, which the husband controlled.
• B)Spanish for "conqueror"; a Spanish soldier-explorer, such as Hernán Cortés or Francisco Pizarro, who sought to conquer the New World for the Spanish crown.
• C)A small, maneuverable, three-masted sailing ship developed by the Portuguese in the fifteenth century that gave the Portuguese a distinct advantage in exploration and trade.
• D)A second-century work translated into Latin around 1410 that synthesized the classical knowledge of geography and introduced latitude and longitude markings.
• E)The 1494 agreement giving Spain everything west of an imaginary line drawn down the Atlantic and giving Portugal everything to the east.
• F)An alliance between the Mexica people and their conquered allies, with its capital in Tenochtitlan (now Mexico City), that rose in size and power in the fifteenth century and possessed a sophisticated society and culture, with advanced mathematics, astronomy, and engineering.
• G)The vast and sophisticated Peruvian empire centered at the capital city of Cuzco that was at its peak in the fifteenth century but weakened by civil war at the time of the Spanish arrival.
• H)The name for the four administrative units of Spanish possessions in the Americas: New Spain, Peru, New Granada, and La Plata.
• I)A system established by the Portuguese in Brazil in the 1530s, whereby hereditary grants of land were given to nobles and loyal officials who bore the costs of settling and administering their territories.
• J)A system whereby the Spanish crown granted the conquerors the right to forcibly employ groups of indigenous peoples as laborers and to demand tribute payments from them in exchange for providing food, shelter, and instruction in the Christian faith.
• K)The exchange of animals, plants, and diseases between the Old and the New Worlds.
• L)An event organized by Spanish king Charles V in 1550 that pitted defenders of Spanish conquest and forcible conversion against critics of these practices.
• M)The notion that the Spanish were uniquely brutal and cruel in their conquest and settlement of the Americas, an idea propagated by rival European powers.

Understand the theory and rationale behind the LCM rule, including conservatism.

Apply the gross profit method to estimate inventory cost.

Recognize specific accounting treatments for loss on non-cancellable purchase contracts.

Understand and apply the concept of the lower of cost or market rule in inventory valuation.

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Definitions:

Moral Liberty

The freedom to act in accordance with one's moral principles and beliefs, often considered a key aspect of individual autonomy and ethical life.

Natural Liberty

A philosophical concept referring to the freedom from artificial constraints and the ability to act according to one's own will and reason in the pursuit of happiness and well-being.

Roger Williams

A Puritan minister, theologian, and founder of the colony of Rhode Island, he is known for his advocacy for religious freedom and separation of church and state in the early 17th century.

Anne Hutchinson

A Puritan spiritual adviser, mother of 15, and an important participant in the Antinomian Controversy that shook the infant Massachusetts Bay Colony from 1636 to 1638.