Under Marxist Theory, in Communism There Is No Need for Government

question 47

Essay

Under Marxist theory, in communism there is no need for government structure because people would be free from exploiting each other. Do you agree that this is possible? Does government serve functions beyond preventing exploitation?

Apply and distinguish between initial value, equity, and partial equity accounting methods for investments.

Recognize and measure contingent consideration in business combinations.

Understand and account for fair value adjustments to assets and liabilities in a business combination.

Recognize and measure impairment of goodwill and other intangible assets.

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Definitions:

Beers

An alcoholic beverage typically made from water, malted barley, hops, and yeast.

Day

A period of 24 hours as a unit of time, representing the time taken by the Earth to complete one rotation with respect to the sun.

Utility

Refers to the total satisfaction received from consuming a good or service.

Consuming

The act of using goods and services to satisfy needs or wants.