Adam Smith's Book, One of the First Systematic Treatments of Economics

question 245

Multiple Choice

Adam Smith's book, one of the first systematic treatments of economics, was entitled

• A)The Plan of the Ages.
• B)The General Theory of Money, Taxes, and Income.
• C)The Wealth of Nations.
• D)Principles of Economics.
• E)Concepts in Moral Philosophy.

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Definitions:

Consolidate

In financial context, to combine assets, liabilities, and other financial items of two or more entities into one.

Consolidated Balance Sheet

A financial statement that aggregates all assets, liabilities, and equity of a parent company and its subsidiaries, presenting the financial position of the entire group.

Subsidiary

A company that is controlled by another company, referred to as the parent company.

Loaned

Refers to money or assets that have been lent to another party under an agreement to be repaid, often with interest.