Greek Philosophers, Including Aristotle, Developed a Keen Appreciation for the Study

question 25

Multiple Choice

Greek philosophers, including Aristotle, developed a keen appreciation for the study of natural history. Which of the following contributions did Aristotle make that marked the birth of the field of natural history?

• A) distinguishing among 500 species of birds, mammals, and fishes
• B) proposing a taxonomy of nature-a classification system of life
• C) his books, Physics and Natural History of Animals
• D) an evolutionary theory of biology that recognized change over time

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account reducing total accounts receivable to reflect the amount that is expected to be uncollectible.

Income Statement Approach

The income statement approach is a method for preparing financial statements, focusing on calculating net income by summarizing revenues and expenses.

Allowance Account

An account used in accounting to estimate the portion of accounts receivable that may not be collectible.

Credit Balance

A Credit Balance occurs when the total credits in an account exceed the total debits, often indicating the amount owed to the customer or client in financial contexts.