William the Conqueror Was Politically Innovative in That He

question 32

Multiple Choice

William the Conqueror was politically innovative in that he:

• A)claimed England in the name of the Roman papacy.
• B)rewarded his Norman followers with cash payments rather than English land.
• C)used the highly centralized English administrative authority combined with the feudal structures of France.
• D)negotiated an advantageous peace agreement with King Harold of England without resorting to physical violence.
• E)managed to retain the English crown while becoming the heir to the French throne.

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Definitions:

FIFO

First In, First Out, an inventory valuation method where goods purchased or produced first are sold or consumed first.

Average Cost Method

An inventory costing method that determines the cost of goods sold and ending inventory based on the weighted average cost of all items available for sale.

Gross Profit

calculates as the difference between revenue and the cost of goods sold, indicating how efficiently a company uses its resources to produce goods.

Ending Inventory

The total value of all inventory, including goods in various stages of production, available at the end of an accounting period.