It Can Be Said That, as a Result of the Industrial

question 13

Multiple Choice

It can be said that, as a result of the Industrial Revolution, by 1847

• A) most middle-class women worked outside their homes.
• B) some people rose in social status, while many others worked in appalling conditions.
• C) all segments of society experienced higher income from the changes.
• D) violent and prolonged conflicts between social classes became endemic in Britain.
• E) group identification began to develop inconsequential aspects.

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Definitions:

Salaries and Wages Expense

The total amount recorded by a company for the cost of salaries and wages paid to employees.

Fiscal Period

A specific time period for which an organization plans its budgets and reports financial performance, often a year or quarter.

Unearned Service Revenue

Unearned service revenue is money received by a company for services it has yet to perform, considered a liability until the service is delivered.

Adjusting Entry

An accounting entry made in the books at the end of an accounting period to allocate revenue and expenses to the period in which they actually occurred.