Business and Commercial Law quizzes
How laws govern business, from contracts and bankruptcy to the origins of commercial legal terms.
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From Business and Commercial Law: Why Bankrupt Means Broken Bench
Luca Pacioli's 1494 treatise spread which practice that merchants are still required to follow?
- Double-entry bookkeeping
- Issuing paper money
- Limited liability
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Answer: Double-entry bookkeeping
Pacioli described the Venetian method of recording every transaction as a debit and a credit, the basis of the accounting books merchants must keep.
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