Which of the Following Is NOT True About Socialism

question 17

Multiple Choice

Which of the following is NOT true about socialism?

• A) Socialism involves an economic ideology in which the government or state plays a strong role in the economy and may own stakes in certain businesses.
• B) Countries with socialist economies aspire to be "classless."
• C) Socialistic economies tend to be somewhat more collectively than individualistically oriented.
• D) Many European countries have strong socialistic orientations.
• E) Socialistic countries put a high degree of importance upon worker and labor rights.

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Definitions:

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, indicating the company's financial performance over a specified period.

Acquisition Method

A set of accounting procedures used for consolidating the financial statements of a parent company and its subsidiaries.

Fair Value

The estimated market value to sell an asset or the required payment to delegate a liability, during a structured transaction as of the specified valuation date.