Two Key Inventions That Found Their Way from China to the West

question 8

Multiple Choice

Two key inventions that found their way from China to the West during the twelfth to thirteenth century were

• A) the concept of zero and movable type.
• B) the magnetic compass and paper.
• C) gunpowder and the manufacture of silk.
• D) paper money and movable type.

Grasp how transactions affect the retained earnings account during the closing process.

Understand the preparation and significance of closing entries in the accounting process.

Understand the concept and application of closing accounts and their impact on the Income Summary and Retained Earnings.

Calculate and interpret current ratio and its significance in evaluating a company's liquidity.

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Definitions:

Cnidarians

A phylum of aquatic invertebrates known for their distinctive body plan featuring a single, central cavity and stinging cells.

Coelom

A body cavity in certain animals, including humans, that is lined by an epithelial layer derived from mesoderm, providing space for the development of internal organs.

Bilateral Animals

Animals that possess bilateral symmetry, having a body plan in which the left and right sides mirror each other.

Coelomic Fluid

A fluid found within the coelom, the body cavity of most animals, that serves various functions including circulation and the provision of a hydrostatic skeleton.