Heritage Assets Have Characteristics That Create Doubt About Whether or Not

question 60

Multiple Choice

Heritage assets have characteristics that create doubt about whether or not they satisfy the definition of an asset.These characteristics include:

• A) They are not expected to generate net economic benefits.
• B) They never generate cash inflows.
• C) They are unlikely ever to be sold.
• D) They are not expected to generate net economic benefits and they are unlikely ever to be sold.

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Definitions:

Marx

Karl Marx, a 19th-century philosopher, economist, and revolutionary socialist whose works form the basis of Marxist theory.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Class Conflict

When the interests of one class are in opposition to those of another.

Caste System

An ascribed system of hereditary class designation.