The Most Influential Scholastic Thinker Was

question 140

Multiple Choice

The most influential scholastic thinker was

• A)Aristotle.
• B)Peter Abelard.
• C)Thomas Aquinas.
• D)Dante Alighieri.
• E)none of these choices

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Definitions:

Perpetual Inventory Method

An inventory management system that continuously updates the quantity and value of inventory on hand and sold, using real-time data.

Financial Statements

Reports summarizing the financial performance, position, and cash flows of a business for a specific period, including balance sheet, income statement, and statement of cash flows.

Contra Accounts

Accounts used in accounting to reduce the value of a related account to derive its net balance; examples include accumulated depreciation.

Normal Balances

The side of an account (debit or credit) where increases to the account are recorded; assets and expenses typically have debit normal balances, while liabilities, equity, and revenue have credit normal balances.