A) John Locke
B) Adam Smith
C) Karl Marx
D) Luca Pacioli

A) 1500
B) 1485
C) 1494
D) 1512

A) Only cash transactions are recorded
B) Only one account is affected per transaction
C) Every transaction affects at least two accounts
D) Transactions are recorded in a single entry

A) To create financial statements
B) To ensure debits equal credits
C) To assess profit and loss
D) To pay taxes

A) Invoices and receipts
B) Summary of bank statements
C) Equity reports
D) Records of financial transactions

A) Increases paperwork
B) Eliminates the need for accountants
C) Reduces errors in financial reporting
D) Decreases understanding of finances

A) Revenue recognition
B) The accounting equation
C) Historical cost
D) Matching principle

A) Italy
B) England
C) Germany
D) France