Because of a Failing Economy, Leaders in the Soviet Union

question 43

Multiple Choice

Because of a failing economy, leaders in the Soviet Union began a series of reforms to loosen the centrally planned economy, shifting toward a mixed economy that would permit capitalism.What is the term for this general type of restructuring?

• A)Glasnost
• B)Perestroika
• C)SALT
• D)"The Great Expansion"
• E)Stagflation

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Definitions:

Owner Drawings

Owner Drawings are withdrawals of business assets by the owner(s) for personal use, affecting the owner's equity account but not considered business expenses.

Revenues

The total amount of money received or expected to be received from the sale of goods or services, as well as other financial sources.

Net Income

The company's ultimate income after expenses and taxes have been taken away from total earnings.

Electronic Repair Revenues

Income generated from the business of fixing and restoring electronic devices and components to working condition.