Between 1953 and 1957, China Took Steps That Moved It

question 36

Multiple Choice

Between 1953 and 1957, China took steps that moved it decisively toward socialism. These included all of the following EXCEPT

• A) the collectivization of agriculture.
• B) implementing a planned economy.
• C) the government takeover of industries.
• D) virtually eliminating private property.
• E) instituting a secret police organization to silence its opponents.

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Definitions:

Cash Short

A situation where the actual cash on hand is less than the recorded amount in the accounting records, often resulting in a discrepancy during reconciliation.

Petty Cash Receipts

Documentation of small amounts of cash expenditures from a petty cash fund, used for minor business expenses.

Internal Control Problems

Weaknesses or failures in a company’s system of policies and procedures that govern its operations and financial reporting.

Gaps

Refers to missing elements or disparities in data, knowledge, or performance that need to be addressed.