Central Planners in Command Economies

question 249

Multiple Choice

Central planners in command economies

• A)generally set production targets for firms.
• B)always consult consumers on the output of goods they want to consume.
• C)allow prices to organize the economy's production.
• D)depend upon the invisible hand to coordinate economic activities.

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Definitions:

Intra-Entity Transfer

Transactions of goods, services, or funds that occur between departments or divisions within the same company or organization.

Consolidation

The process of combining financial statements of a parent company with its subsidiaries to present as if the group of companies is a single economic entity.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for a long-term asset since its acquisition.

Consolidation Purposes

The process of combining the financial statements of a parent company and its subsidiaries into one comprehensive financial statement package, to present as if the group were a single entity.