A Central Element of Carolingian Peasant Life Was the Demesne

question 36

Multiple Choice

A central element of Carolingian peasant life was the demesne, which was the

• A) title of the lord to whom peasants owed service.
• B) manse belonging to the lord, on which peasants were obligated to work.
• C) name of the local church or monastery.
• D) tax paid directly to the king.

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Definitions:

Conservatism

An accounting principle that requires uncertainties and risks to be accounted for by reporting lower potential profits and higher liabilities.

Replacement Cost

The cost to replace an asset at its current market price, often used in insurance and accounting.

Inventory

The total amount of goods or materials a company has in stock for sale or production.

LIFO Method

Last In, First Out method; an inventory valuation method where the last items added to inventory are assumed to be sold first.