As It Relates to Reform in Former Soviet Countries, Privatization

question 121

Multiple Choice

As it relates to reform in former Soviet countries, privatization means:

• A) selling publicly owned property to private buyers.
• B) demonopolization of state industry.
• C) price liberalization.
• D) controlling the private section.

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Definitions:

Note Settlement

The process of satisfying the obligations of a promissory note, typically involving the repayment of the principal and accrued interest.

Past Due Account

An account that has not been paid by the deadline, resulting in overdue payments.

Accounting Equation

The fundamental formula in accounting that represents the relationship between assets, liabilities, and equity: Assets = Liabilities + Equity.

Voucher System

A set of procedures that uses vouchers for authorizing and recording liabilities and cash payments.