Which of the Following Is a Negative Feature of Socialist

question 4

Multiple Choice

Which of the following is a negative feature of socialist economic systems?

• A)Excessive private ownership of healthcare and utilities
• B)Absence of any tax structure
• C)Inefficiencies and corruption
• D)Lack of government ownership of key enterprises

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Definitions:

Direct Method

A way of preparing cash flow statements where actual cash inflows and outflows from operational activities are listed.

Selling Expenses

Costs incurred directly and indirectly in making sales, including commissions, advertising, and salaries of sales staff.

Administrative Expense

Overhead or general expenses related to the day-to-day running of a business but not directly tied to production.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting the decrease in the asset's value.