All of the Following Contributed Positively to the Growth of Commercialism

question 54

Multiple Choice

All of the following contributed positively to the growth of commercialism in medieval China EXCEPT:​

• A)​the abbacus.
• B)​the Grand Canal.
• C)​banking
• D)​paper money.
• E)​credit.

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Definitions:

Current Asset

An asset that is expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Long-Term Liabilities

Long-Term Liabilities are financial obligations of a business that are due more than one year in the future, such as bonds payable or long-term loans.

Cost of Goods Sold

Cost of goods sold represents the direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Beginning Inventory

The value of goods available for sale at the start of an accounting period.