Currently the United States Is Considered the Only True Superpower

question 36

Multiple Choice

Currently the United States is considered the only true superpower in the world arena. However, from the close of World War II until the late 1980s another superpower existed that often opposed the United States and consumed much of the president's energies. This superpower was ___________.

• A) the People's Republic of China
• B) Great Britain
• C) the Soviet Union (USSR)
• D) Cuba
• E) Israel

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Definitions:

Sales Tax Payable

A liability account that accumulates the collected sales tax from customers to be remitted to the respective tax authorities.

Asset Account

An asset account is a category in the financial statements that reports the value of a company's assets, such as cash, inventory, property, and equipment.

Liability Account

A type of accounting ledger entry that represents a company's legal debts or financial obligations that arise during business operations.

Invoice Value

The total amount shown on an invoice that a customer must pay, including the cost of goods or services, taxes, and any additional fees.