Which of the Following Is Not a Reason Why the Industrial

question 51

Multiple Choice

Which of the following is not a reason why the Industrial Revolution occurred when and where it did?

• A)The British government was committed to upholding private property rights.
• B)The British government was able to eliminate arbitrary increases in taxes.
• C)The British government was able to more easily seize wealth.
• D)Institutional changes by the British government helped protect wealth.
• E)The British courts were effective at enforcing contracts.

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Definitions:

Cash-Basis Accounting

An accounting method where revenues and expenses are recorded when cash is received or paid, rather than when they are earned or incurred.

Matching Principle

An accounting principle that dictates expenses should be matched with the revenues they help to generate within the same period.

Generating Revenue

The process by which a company earns income through its business activities, such as selling goods or services.

Ship Building

The construction and design of ships and other floating vessels, a specialized industry that requires engineering and manufacturing skills.