Which of the Following Is Not True About the European

question 56

Multiple Choice

Which of the following is not true about the European Union?

• A) A common currency has been introduced.
• B) The European Union has established the EU Commission and delegated certain powers to it, including the authority to enact legislation, and to take enforcement actions to ensure member compliance with the treaty.
• C) A majority vote is needed to admit a new member.
• D) The gross economic output of European Union nations is greater than that of the United States.
• E) The European Union was created in 1957.

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Definitions:

Current Ratio

Current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, by comparing current assets to current liabilities.

Net Working Capital

Net working capital is the difference between a company's current assets and current liabilities, indicating short-term financial health and the ability to cover its short-term obligations.

Factoring Receivable

The process of selling accounts receivable to a third party at a discount to quickly generate cash.

Book Value

Book Value is the value of an asset according to its balance sheet account balance, calculated by subtracting liabilities from assets.