The Increase in the Built Environment in Preindustrial Societies Contributed

question 63

Multiple Choice

The increase in the built environment in preindustrial societies contributed to a higher living standard, primarily because of

• A) centralization of power.
• B) specialization of labor.
• C) new ideology.
• D) improved communication.

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Definitions:

Rent Expense

The cost incurred by a company to lease property or equipment for business operations, reported as an operating expense.

Unearned Revenues

Money received by a company for a product or service that has yet to be delivered or performed.

Liabilities

Financial obligations or debts owed by a company to creditors, expected to be paid in the future.

Balance Sheet

A detailed statement that captures a business's assets, liabilities, and shareholder equity as of a specific date.