Which of the Following Does Not Describe the European Union

question 10

Multiple Choice

Which of the following does not describe the European Union (EU) ?

• A) It was formerly known as the European Economic Community.
• B) It had three members sign on as recently as 1995.
• C) It eliminated internal barriers to the free movement of goods, persons, services, and capital between member countries.
• D) It is administered solely by the heads of state of the member countries.

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Definitions:

Cash Balance

The amount of cash in a company's accounts at any given time, important for ensuring liquidity and operational compatibility.

Inventory Loan

A loan that is secured by the inventory of a business, allowing the company to use its inventory as collateral.

Maturity Factoring

A financing method where a business sells its invoices to a factor at a discount but receives payment only when the customer pays the invoice at maturity.