The USGovernment's Use of Blackwater Security Consulting,a Military Security Company,to Guard

question 47

Multiple Choice

The U.S.government's use of Blackwater Security Consulting,a military security company,to guard officials and military installations in Iraq is an example of ________.

• A) privatization
• B) nationalization
• C) capitalization
• D) socialization
• E) communism

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Definitions:

Credit To Inventory

An accounting entry that increases the inventory account, reflecting the addition of goods or the correction of an underreported inventory balance.

Credit Period

The amount of time the buyer is allowed in which to pay the seller.

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under previous invoices.

Percent Of Cash Discount

The percentage reduction in price offered for prompt payment of invoices to encourage early settlement of accounts payable.