In the First Part of the 19th Century, the Emergence

question 41

Multiple Choice

In the first part of the 19th century, the emergence of factories affected urban artisans by

• A)increasing their prosperity.
• B)contributing to their growing unemployment.
• C)forcing them rapidly into proletarianization.
• D)leading to a decline in competition.

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Definitions:

General Ledger

A complete record of all the financial transactions of a company, organized by accounts, which provides the data used to create financial statements.

Chart of Accounts

An organized list of all the account titles and numbers used in the ledger of a company to classify transactions.

Transactions

Business activities or events that have a financial impact on the finances of a company, recorded in the accounting records.

T-Accounts

A graphic representation of financial transactions in the general ledger of a double-entry bookkeeping system where the left (debit) and right (credit) sides reflect different types of transactions.