The Power of the State Increased in Western Europe Largely

question 30

Multiple Choice

The power of the state increased in Western Europe largely because of improvements in

• A) military technology.
• B) the philosophy of government.
• C) relations with the church.
• D) communications.

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Definitions:

Retained Earnings

The portion of a company's profits not distributed as dividends but retained for reinvestment in the business or to pay off debt.

Income Summary

An account used in the closing process during the accounting cycle that sums up all revenues and expenses for the period to determine the net income or loss for the period.

Retained Earnings

The sum of a company's earnings up to the present, reduced by any shareholder dividends or distributions.

Total Assets

The sum of all assets owned by a company, including both current and fixed assets, as represented on the balance sheet.