Among the Business Innovations That Contributed to the Development of Modern

question 36

Multiple Choice

Among the business innovations that contributed to the development of modern capitalism were all of the following EXCEPT

• A)maritime insurance.
• B)joint-stock companies.
• C)the antecedent to the modern check.
• D)the elimination of double-entry bookkeeping.
• E)business techniques developed in southern Europe.

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Definitions:

Operating Activities

Tasks and transactions directly related to the primary business functions of providing goods or services to customers.

Statement of Cash Flows

A financial statement that compiles total data about every cash inflow a business gets from its operational activities and external funding sources, in addition to all cash outflows that cover the costs of business operations and investments in a specified timeframe.

Operating Activities Section

A component of the cash flow statement that shows cash inflows and outflows related to the core business operations.

Income Taxes

Taxes levied by the government on income generated by businesses and individuals within their jurisdiction.