Who Said,"Property Is the Exploitation of the Weak by the Strong.Communism

question 233

Multiple Choice

Who said,"Property is the exploitation of the weak by the strong.Communism is the exploitation of the strong by the weak"?

• A)Karl Marx
• B)Adam Smith
• C)Seymour Melman
• D)Studs Terkel
• E)Pierre-Joseph Proudhon

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Definitions:

Perpetual Inventory System

A method of accounting for inventory that records real-time transactions of goods as they come in and out of stock, thus maintaining a continuously updated inventory balance.

Periodic System

A method of inventory valuation for financial statements where purchases during the period are recorded directly to an inventory account and the cost of goods sold is determined at the end of the accounting period.

Purchase Discounts

A reduction in the purchase price, allowed by the seller to encourage early payment by the buyer.