__________ Is a Political System in Which the Will of the Majority

question 20

Multiple Choice

__________ is a political system in which the will of the majority prevails and decisions are made to maximize the common good.

• A) Capitalism
• B) Socialism
• C) Democracy
• D) Plutocracy

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded by the end of the accounting period.

Adjusting Entry

An accounting entry made at the end of an accounting period to record earnings or expenses that have occurred but are not yet entered in the accounts.

Asset Account

An account that shows the value of the assets a company controls, which can include cash, equipment, and real estate.

Accrued Interest

Interest that has been incurred but not yet paid, often related to bonds or loans.