Question

In which year did Luca Pacioli publish his famous book "Summa de Arithmetica, Geometria, Proportioni et Proportionalita"?

• A. 1477
• B. 1494
• C. 1517
• D. 1482

Answer 1

Answer:

B. 1494

LUCA PACIOLI (1447-1517)

• Father of Accountancy

• Father of Modern Accounting

• Italian Mathematician

• Published 1st Book on Double Entry system of Accountancy in 1494 (VENICE) Summa de arthemetica, Geometrica and Preportini and Preportionalita

• Summa de arthmetica considered as as the 1st Book on Double entry system.

• Introduced the term Debit and Credit.

• Credit - Italian word - Credito - Owned by the proprietor.

• Debit- Latin word- debeo - owed to proprietor.