The Ancient Greeks Conceived Three Fundamental Forms of Government

question 30

Multiple Choice

The ancient Greeks conceived three fundamental forms of government. Which of the following refers to a government ruled by one?

• A) Aristocracy
• B) Monarchy
• C) Democracy
• D) Monopoly
• E) Oligarchy

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Definitions:

Restricted Fund Method

An accounting practice for nonprofit organizations, segregating funds according to restrictions imposed by donors.

Deferral Method

A method of accounting that allows for income or expenses to be recognized at a later date rather than when they are initially incurred.

Donated Land

This informs the recording of land gifted to an entity, valued at its fair market value at the time of donation as an asset on the balance sheet.

Donated Machinery

Assets received for free by an entity, where the fair market value of the machinery is recorded as both income and an asset on the balance sheet.