HISTORY
THE RENAISSANCE AND REFORMATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Hiring Artists
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Making the Bank
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The Brute of the Medici Family
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Last alive of the Medici Family
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Detailed explanation-1: -For example, the Medici fortune was made by using foreign exchange trade and arbitrage. The way it worked is that the Medici’s would collect money, or tax if you prefer to think of it that way, being paid to the Holy Roman Empire under the new Catholic regime of Rome.
Detailed explanation-2: -The invention of double-entry bookkeeping can be traced to slightly before Giovanni de Medici’s time, but it was the family who first popularised its use in their banks.
Detailed explanation-3: -The Medici Bank of Florence was the most important financial institution in 15th-century Europe. The Medici Bank was the chief bank for the Roman Catholic curia, and it had branches in the major cities of Italy, as well as in London, Lyon, Geneva, Bruges, and Avignon.
Detailed explanation-4: -The Medici Bank, from when it was created in 1397 to its fall in 1494, was one of the most prosperous and respected institutions in Europe, and the Medici family was considered the wealthiest in Europe for a time. From this base, they acquired political power initially in Florence and later in wider Italy and Europe.