A Number of Factors Have Been Implicated in the Origin

question 39

Multiple Choice

A number of factors have been implicated in the origin of chiefdom societies. Which of the following is not one of these factors?

• A) population growth
• B) technological innovations
• C) food storage
• D) development of a complex writing system for record keeping

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Definitions:

Journal Entry

A record in the books of accounts that represents a single financial transaction, documented in chronological order and showing the debits and credits for each transaction.

Terms N/30

Payment terms indicating that an invoice must be paid within 30 days of the invoice date.

Allowance Method

An accounting technique used to account for bad debts, estimating and setting aside a portion of accounts receivable that may not be collectible.

Percent of Sales Method

A financial forecasting model that estimates future elements of a financial statement as a percentage of sales.