When Listing Countries in the Order of Money Spent on the Military,the

question 49

Multiple Choice

When listing countries in the order of money spent on the military,the United States spends more than 15 countries combined.The public figure who warned the country to beware of the expanding military and the industries that cater to it was

• A) President Bill Clinton
• B) Industrialist Ross Perot
• C) President Dwight D. Eisenhower
• D) Senator Ted Kennedy
• E) Governor Arnold Schwarzenegger

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Definitions:

Total Liabilities

The sum of all financial obligations a company owes to outside parties, including loans, accounts payable, and any other debts.

IFRS

International Financial Reporting Standards, which are global accounting standards for preparing financial statements, making it easier to compare entities internationally.

Current Liability

An obligation that a company is required to pay off within the current fiscal year or operating cycle, essentially a rephrased definition of current liabilities.

Bank Indebtedness

A financial obligation or debt owed to a bank by an individual or corporation, usually in the form of loans or lines of credit.