Thomas Edison's Contribution to the Search for Cheap and Efficient

question 21

Multiple Choice

Thomas Edison's contribution to the search for cheap and efficient indoor lighting was the

• A) fluorescent lamp.
• B) arc light.
• C) incandescent bulb.
• D) gaseous-discharge bulb.

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Definitions:

Noncurrent Assets

Assets expected to provide economic benefits beyond the next year or operating cycle, excluding items for resale.

Beginning Capital Balance

The beginning capital balance is the amount of capital or equity that a company has at the start of a new accounting period.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business, showing assets, liabilities, equity, revenue, and expenses.

Owner Withdrawals

Money or assets taken out of a business by the owner(s) for personal use.