When It Comes to Ideology, Americans Are Often Placed in Two

question 47

Multiple Choice

When it comes to ideology, Americans are often placed in two broad political camps:

• A) socialists and conservatives.
• B) progressives and liberals.
• C) conservatives and libertarians.
• D) liberals and conservatives.
• E) liberals and socialists.

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Definitions:

Actual Fraud

Deliberate deception by one party to secure unfair or unlawful gain, or to deprive another party of a legal right.

Ultramares Rule

A legal principle that limits the liability of accountants for negligence to parties with whom they are in direct contractual relationship unless fraud is involved.

Duty of Care

A legal obligation requiring individuals and entities to exercise a reasonable standard of care to avoid causing harm to others.

Positive Net Worth

The financial status where total assets exceed total liabilities.