Which of the Following Is True About the Double-Entry System

question 8

Multiple Choice

Which of the following is true about the double-entry system of bookkeeping?

• A) It was developed in the 1300s-1400s in France.
• B) It was developed in the 1800s in Italy.
• C) It was developed in the 1300s-1400s in Italy.
• D) It was developed in the 1800s in the United States.

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Definitions:

Incomes

Earnings received by individuals or entities in exchange for labor or investment, including wages, salaries, and profits.

Government Policies

Strategies and actions defined by government bodies designed to influence or guide aspects of the economy or social issues.

Quantity And Prices

The relationship in economics between the quantity of goods available (supply) and the price those goods fetch in the market (demand).

Higher Profits

An increase in the amount of money that is left after all operating expenses, taxes, and costs have been subtracted from total revenue.