Although Moneylending Was an Important Factor in the Success of Early

question 42

Multiple Choice

Although moneylending was an important factor in the success of early Italian merchant activity:

• A) merchants had to procure loans from Muslim bankers, as such wealth was not available in Europe.
• B) Saint Bonaventura thought all merchants were beyond God's favor.
• C) high medieval towns prospered instead, because of the traditional landed aristocracy.
• D) the papacy refused to borrow money in the Middle Ages.
• E) the Western Christian church condemned the practice as usurious.

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Definitions:

Land Account

An account used in accounting to record the cost of land owned by a company. It includes the purchase price and any additional costs incurred to prepare the land for use.

Fair Value

The price at which an asset would be bought or sold in an orderly transaction between market participants at the measurement date.

Unamortized Patent

The portion of a patent's cost that has not yet been expensed in the income statement over the patent's useful life.

Land Account

An account used in accounting to track the investment in land owned by an entity, including the costs associated with acquiring the land.