Direction: In the following passage there are blanks, each of which has been numbered. Choose the correct word from the given options which fits the blank appropriately.

On November 10, 1494, it is believed, Franciscan Friar Luca Pacioli (1)_________ his ground-breaking (2)_________ on mathematics, Summa, which contained a section on book-keeping — leading the way for accounting studies as we know it today. Accountants worldwide commemorate the event by (3)_________ it as International Accounting Day. The day is also observed as Commerce Education Day. While the good monk’s treatise — the first-ever printed publication on the subject —(4)_________ the very basis for practicing accounting, it also disclosed crucial information on the practices and customs of the merchants of medieval Venice. These (5)_________ kept two sets of books — one for the buyer, the other for the seller.