The Tragedy of the Commons Was Avoided in the Middle

question 3

Multiple Choice

The tragedy of the commons was avoided in the Middle Ages by

• A)selling common grounds to individuals.
• B)the local police who monitored entry into the commons.
• C)social pressure to uphold traditionally accepted limits on family use of the commons.
• D)the government which imposed a tax for the use of the commons.

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Definitions:

Journal Entry

A record in accounting that documents a transaction in a company's ledger, thereby affecting at least two accounts to keep the accounting equation in balance.

Corning Company

A technology company known for its specialty glasses, ceramics, and related materials and technologies, including the development of Gorilla Glass.

Chart of Accounts

A systematic listing of all ledger account titles and numbers used by a company, showing the classification and arrangement of accounts.

Posting Reference

A notation that guides one from a journal entry to its corresponding ledger account, facilitating audit trails.