Which of the Following Statements Does NOT Describe a Command

question 263

Multiple Choice

Which of the following statements does NOT describe a command economy?

• A) Government bureaucrats decide what and how much is to be produced.
• B) A command economy is sometimes called a "planned economy."
• C) Prices are set by the law of supply and demand.
• D) Producers offer a highly limited assortment of goods and services.
• E) The economy is found in countries like Iran and North Korea.

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A continuous roll of paper used in a cash register to record transactions.

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A financial ratio that measures how efficiently a company is collecting revenue from its credit sales by calculating the average number of days that sales remain uncollected.

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A financial control mechanism in accounting where vouchers are created for each transaction, and supporting documents are required for authorization before payment.