Which of the Following Statements About the Inka Is False

question 47

Multiple Choice

Which of the following statements about the Inka is false?

• A)Their social and governmental system was intensely hierarchic.
• B)They lacked writing.
• C)They developed an extensive road system.
• D)Their economic system was essentially state socialism.
• E)They required conquered peoples to worship only Inka gods.

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Definitions:

FMV

Fair Market Value; the price an asset would sell for on the open market between a willing buyer and a willing seller.

Basis

The amount of investment in an asset for tax purposes, used to calculate gain or loss on the asset's sale.

Debt

Debt signifies an amount of money borrowed by one party from another, often with the agreement that it will be repaid, usually with interest, at a future date.

Schedule L

A form used by businesses filing their federal tax return to provide a balance sheet if they have more than $250,000 in receipts or assets.